PASS GEORGIA
REAL ESTATE EXAM PREPGEORGIA REAL ESTATE EXAM GLOSSARY
Executed contract
An executed contract is a contract in which all parties have completed the promised performance.
Contracts
Contract performance
Define, distinguish, apply, retrieve
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PASS GEORGIA
REAL ESTATE EXAM PREPGEORGIA REAL ESTATE EXAM
GLOSSARY TERM GUIDEBuild the complete exam definition
Learn the rule, separate it from the nearest distractor, then apply it to a Georgia fact pattern.
What does Executed contract mean?
An executed contract is a contract in which all parties have completed the promised performance. Executed can also describe a document that has been signed, so the question's context matters.
How do you separate the nearest exam answer?
Executed as contract status means fully performed. Executory means one or more material obligations remain to be performed.
What changes or stays the same in Georgia?
The national distinction applies in Georgia. A signed purchase agreement is usually still executory until closing obligations are completed.
The buyer has paid, the seller has delivered the deed, and all agreed closing duties are complete.
A document signed today can be properly executed as a document but still be executory as a contract.
Memory cue: A document signed today can be properly executed as a document but still be executory as a contract.PASS GEORGIA
REAL ESTATE EXAM PREPGEORGIA REAL ESTATE EXAM
GLOSSARY TERM GUIDERetrieve the rule under exam conditions
Answer before reading the explanation. Then explain why every distractor belongs to a different term.
Which statement correctly explains Executed contract?
- A
An executory contract is a valid agreement under which one or more parties still have material performance due, such as a purchase contract between acceptance and closing.
- B
An executed contract is a contract in which all parties have completed the promised performance.
- C
A bilateral contract is formed by an exchange of promises, with each party becoming both a promisor and a promisee.
- D
A deed is a written instrument by which a grantor conveys an interest in real property to a grantee.
Executed contract is correct. An executed contract is a contract in which all parties have completed the promised performance. Executed can also describe a document that has been signed, so the question's context matters. Executed as contract status means fully performed. Executory means one or more material obligations remain to be performed. The national distinction applies in Georgia. A signed purchase agreement is usually still executory until closing obligations are completed.
Mark each box only when you can perform the skill without looking.
I can define the term in one precise sentence.
I can separate it from the closest look-alike.
I can explain the Georgia rule or confirm that the national rule applies.
I can answer the practice check and explain every option.
PASS GEORGIA
REAL ESTATE EXAM PREPGEORGIA REAL ESTATE EXAM
GLOSSARY TERM GUIDEConnect the term to the wider exam
Use these relationships to move from isolated recall to a connected exam model.
Contracts complete lesson
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