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A contract in which, under the terms of a contract, nothing remains to be done by either party is known as
Executed contract
Executory contract
Unilateral contract
None of the above
- Option 1: Executed contract
- This is a contract where both parties have fulfilled their obligations.
- Nothing remains to be done by either party.
- Correct Answer: An executed contract fits the description given.
- Option 2: Executory contract
- This contract has terms that are yet to be fully performed.
- Obligations remain for one or both parties.
- Option 3: Unilateral contract
- One party makes a promise in exchange for an act.
- Completion of the act creates the contract.
- Option 4: None of the above
- This option doesn't apply since option 1 is correct.
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