Executory contract

An executory contract is a contract that has not yet been fully performed or fully executed.^[1] It is a contract in which both sides still have important performance remaining. However, an obligation to pay money, even if such obligation is material, does not usually make a contract executory. An obligation is material if a breach of contract would result from the failure to satisfy the obligation.^[2] A contract that has been fully performed by one party but not by the other party is not an executory contract. See, generally, Countryman, Vern, "Executory Contracts in Bankruptcy: Part I" (1973). Minnesota Law Review. 2459. https://scholarship.law.umn.edu/mlr/2459 and "Executory Contracts in Bankruptcy: Part II" (1974). Minnesota Law Review. 2460.https://scholarship.law.umn.edu/mlr/2460.

^ Mission Product Holdings, Inc. v. Tempnology, LLC, 139 S. Ct. 1652 (2019).
^ Bob Eisenbach (July 18, 2006). "Executory Contracts -- What Are They And Why Do They Matter In Bankruptcy?". In the (Red). Retrieved 2007-12-21.

[:1-1] Mission Product Holdings, Inc. v. Tempnology, LLC, 139 S. Ct. 1652 (2019).

[bankruptcy2-2] Bob Eisenbach (July 18, 2006). "Executory Contracts -- What Are They And Why Do They Matter In Bankruptcy?". In the (Red). Retrieved 2007-12-21.

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