BSL 605 - Lecture 3 PDF
BSL 605 - Lecture 3 PDF
BSL 605 - Lecture 3 PDF
1872
BSL 605- KINDS
OF CONTRACT
[J Inc, agreed to buy 10 tons of coal from the Northern Coal Co.
The Co. delivered the coal to J’s steel mill, where it was being
burned. At that point, the contract was executed on the part of
Northern and executed on J’s part. After J Inc. paid the company
price for the coal supplied, the contract would be executed on both
sides.]
Cont..
b. Executory contract:- obligations are outstanding.
They can be Unilateral and Bilateral.
[ T agrees to coach R, a medical student,
from first day of next month and R agrees to pay a
consideration of Rs. 3000p.m., the contract is
executory because it is yet to be carried out.]
Quiz/Poll
In an executed contract, both parties have yet to fulfil their
obligations.
a)Yes
b)No
Comment……