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On January 16, Deb offers to sell her waterbed to Colleen for $600. Colleen accepts and agrees to pay Deb $600 on January 27. Which of the following is correct? a. On January 16, the contract was executory. b. On January 16, the contract was executed. c. This contract is a unilateral contract. d. There is no contract until one party performs. .

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Answer:

The correct answer is A

Explanation:

Under this situation, the contract become executory as it is that contact which is not yet been fully executed or performed. In this kind of contract, both parties still have vital performance remaining.

As on 16 January, Deb sell the waterbed to colleen and they accept and agreed to pay on January 27. Therefore, the contract become executory.

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