Executory Contract
Bouvier's Law Dictionary and Concise Encyclopedia · John Bouvier; revised by Francis Rawle · 1914
Bouvier's Law Dictionary and Concise Encyclopedia
One in which some future act is to be done: as, where an agreement is made to build a house in six months, or to do any act at a future day. See Contract; Performance. An agreement to sell and convey land, which is not a conveyance, operating as a present transfer of legal estate and seisin, is wholly executory, though it contains t.l itwords "grant, bargain and sell;" and produces no effect upon the estates and titles of the parties; and creates no lien or charge on the land itself; Simpson v. Breckenridge, 32 Pa. 2S7; Stewart's Adm'rs v. Lang, 37 Pa. 201, 78 Am. Dec. 414; Watson v. Coast, 35 W. Va. 403, M S. E. 249.