Executed vs Executory Contract
An executed contract is fully performed by both parties; an executory contract still has obligations left to complete.
An executed contract is one in which both parties have fully performed all of their obligations, such as a sale that has closed. An executory contract is one in which something remains to be done.
A signed purchase contract before closing is executory, because the parties still have to close. After closing, the contract is executed.
On the exam
Exam trap
Tested in
Contracts & Agency (13% of the exam)
From definition to recall
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This definition is Texas real estate exam-prep education, not legal, tax, or professional advice. Verify current rules against the official source before relying on them for a real transaction. Back to the full glossary.