leases and executory contracts
- leases and executory contracts
- leases and executory contracts
-
Executory contracts are contracts where obligations are yet to be performed by both parties. The bankruptcy code gives special treatment to unexpired leases and executory contracts by allowing the debtor, in many cases, to choose whether it wants to continue with the agreement (assume) or terminate the agreement (reject).
A contract to sell goods where the goods have not yet been delivered is an executory contract. A contract for the sale of goods where the goods have been delivered and the receiving party has yet to pay, is not an executory contract. Most leases of personal property or real estate are executory contracts. A collective bargaining agreement is an executory contract and is given special treatment. (Bernstein's Dictionary of Bankruptcy Terminology)
United Glossary of Bankruptcy Terms
2012.
- leases and executory contracts
-
Executory contracts are contracts where obligations are yet to be performed by both parties. The bankruptcy code gives special treatment to unexpired leases and executory contracts by allowing the debtor, in many cases, to choose whether it wants to continue with the agreement (assume) or terminate the agreement (reject).
A contract to sell goods where the goods have not yet been delivered is an executory contract. A contract for the sale of goods where the goods have been delivered and the receiving party has yet to pay, is not an executory contract. Most leases of personal property or real estate are executory contracts. A collective bargaining agreement is an executory contract and is given special treatment.
US Bankruptcy
2012.
Glossary of Bankruptcy.
Look at other dictionaries:
executory contract — a contract in which some or all of the obligations of each party have not yet been completed. The debtor in possession (or trustee) is allowed to reject unilaterally certain executory contracts (Glossary of Common Bankruptcy Terms) see leases and … Glossary of Bankruptcy
executory contract — see contract Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. executory contract … Law dictionary
Accounting for leases in the United States — is regulated by the Financial Accounting Standards Board (FASB).Accounting for leases by the lesseeA lease is defined as a contractual agreement between a lessor and lessee that gives the lessee the right to use specific property, either owned by … Wikipedia
South African contract law — is essentially a modernised version of the Roman Dutch law of contract, [1] which is itself rooted in Roman law. In the broadest definition, a contract is an agreement entered into by two or more parties with the serious intention of creating a… … Wikipedia
Chapter 11, Title 11, United States Code — Bankruptcy in the United States Bankruptcy in the United States Authority · History U.S. Trustee Court … Wikipedia
Notary public — An embossed foil Notary Seal from the State of New York. A notary public (or notary or public notary) in the common law world is a public officer constituted by law to serve the public in non contentious matters usually concerned with estates,… … Wikipedia
contract — contractee, n. contractible, adj. contractibility, contractibleness, n. contractibly, adv. n., adj., and usu. for v. 16 18, 22, 23 /kon trakt/; otherwise v. /keuhn trakt /, n. 1. an agreement between two or more parties for the doing or not doing … Universalium
Bankruptcy in the United States — The United States Constitution (Article 1, Section 8, Clause 4) authorizes Congress to enact uniform Laws on the subject of Bankruptcies throughout the United States. Congress has exercised this authority several times since 1801, most recently… … Wikipedia
History of English land law — Material here has been extracted from the 1911 Britannica encyclopedia. The history of English land law derives from a mixture of Roman, Norman and modern legislative sources.OutlineSuch terms as fee or homage carry us back into feudal times.… … Wikipedia
bankruptcy clause — n: ipso facto clause Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. bankruptcy clause … Law dictionary
