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executory |
Also found in: Dictionary/thesaurus, Financial, Encyclopedia, Wikipedia, Hutchinson | 0.03 sec. |
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That which is yet to be fully executed or performed; that which remains to be carried into operation or effect; incomplete; depending upon a future performance or event. The opposite of executed. executory adj. something not yet performed or done. Examples: an executory contract is one in which all or part of the required performance has not been done; an executory bequest is a gift under a will which has not been distributed to the beneficiary. executory adjective contingent, imperfectus, not yet carried into operation, unaccomplished, uncompleted, unfinished, unperformed Associated concepts: executory accord, executory bequest, executory consideration, executory contract, executory deeise, executory estate, executory gift, executory instruuent, executory interest, executory limitation, executory remainder, executory treaty, executory trust EXECUTORY. Whatever may be executed; as an executory sentence or judgment, an executory contract. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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The general cited specific examples used at Tinker in both the preparatory and executory phases. The employees retained legal title to the property; there was no intention to transfer ownership; the sales contracts were executory in nature, only executed if the property were not sold to a third party within a year; and the employee received any profits beyond the original contract price. FASB plans to spend the rest of this summer assessing several key issues: defining when contract performance has occurred, identifying a unit of account for partially executory revenue contracts, determining when performance obligations should be measured for nonperformance-related events, considering the measurement of contract assets and discussing a revised definition of revenue and how to distinguish revenue from other components of comprehensive income. |
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