Asked by Micah Awisus on Jul 14, 2024
Verified
Wrong Deck.Penny hires Jackson to paint the back deck on her house.She agrees to pay him $200 for the job and he accepts,sight unseen.They enter into the agreement on Tuesday,and he is to paint the deck on Saturday.When Jackson arrives,neither Penny nor her neighbor is at home.He mistakenly paints the neighbor's deck.Penny calls him the next day and asks him why he did not paint her deck.He informs her that he did paint the deck.It is then realized that he mistakenly painted the neighbor's deck.Penny tells him not to worry because the neighbor will be required to pay him.Jackson says that if the neighbor does not pay,he expects all of his funds from Penny.What was the status of the agreement between Jackson and Penny as of Tuesday when they agreed upon the price for the job?
A) The contract was executory.
B) The contract was executed.
C) The contract was notated.
D) The contract was formal.
E) The contract was a recognizance contract.
Executory Contract
An executory contract is a contract that has not yet been fully performed or completed by one or more parties.
Agreed Upon
A condition or decision reached by two or more parties after a negotiation or discussion.
- Attain an insight into the various classifications of contracts, which encompass bilateral, unilateral, implied, and express, and understand their unique attributes and legal repercussions.
Verified Answer
AB
Abigail BrackeenJul 18, 2024
Final Answer :
A
Explanation :
As long as some of the duties under the contract have not yet been performed,the contract is considered executory.
Learning Objectives
- Attain an insight into the various classifications of contracts, which encompass bilateral, unilateral, implied, and express, and understand their unique attributes and legal repercussions.