A contract in which terms have NOT been fully performed by all parties is

• A. executed
• B. valid
• C. executory
• D. voidable

Answer: (C)

You’re looking at the status of a contract based on how much performance has happened. When terms haven’t yet been fully carried out by all parties, the contract is in an executory state. That means promises remain to be fulfilled and the agreement is not yet complete. Once everyone has performed all their duties, the contract becomes executed.

A valid contract simply means it’s legally binding and enforceable, regardless of whether performance is finished. A voidable contract is valid but can be canceled by one party for a legitimate reason. Those ideas describe enforceability or potential cancellation, not the current stage of performance.

So, the term that best fits a contract with outstanding obligations is executory.