Executed Consideration

A consideration which is wholly past.

1 Pars. Cont. 391.

An act done or value given before the making of the agreement. and where the transaction is completed at the moment thatthe agreement is made, as where an article is sold and delivered, and payment therefor is made on the spot. A contract is said to be exceutory where some future act is to be done, as where an agreement is made to build a house in six months, or te do an act on or before some future day, or to lend money upon a certain interest, payable ata future time, Story, Cont. 8.