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Executory

   Also found in: Dictionary/thesaurus, Financial, Wikipedia, Hutchinson 0.04 sec.

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. Whatever may be executed; as an executory sentence or judgment, an executory contract.
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The general cited specific examples used at Tinker in both the preparatory and executory phases.
Air Force Materiel Command (Sept. 27, 2006): AFMC vice commander ... by Lopez, Kathleen A.K. / Defense AT & L
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.
Service clarifies position on employer payments to relocation service ... by Schell, Wayne M. / The Tax Adviser
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.
Making sense of revenue recognition: revenue "mis-recognition," the ... by Cheney, Glenn A. / Financial Executive
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