What does executory mean?
"Executory" is a formal adjective used chiefly in legal contexts to describe agreements, trusts, or interests that have not yet been fully carried out. When a contract is executory, one or both parties still owe future performance — money to be paid, goods to be delivered, work to be completed. This contrasts with an executed contract, where all obligations have been discharged. The term appears in several fixed phrases, such as "executory contract," referring to an agreement with outstanding duties on either side, and "executory interest," a property-law concept describing a future estate that takes effect automatically upon a stated condition without needing further transfer. Outside the courtroom, executory can more loosely describe anything pending completion or awaiting execution, though such general use is uncommon. Because it signals unfinished business rather than failure, the word carries a neutral, procedural tone rather than a negative one. For readers encountering it in contracts, bankruptcy filings, or real-estate documents, understanding "executory" clarifies which obligations remain live and enforceable.
adjectiveRelating to or involving execution or performance of something; in law, describing a contract or instrument that still requires future action to be completed, as opposed to one that has been fully performed (executed).
- (Law) Describing a contract, trust, or instrument whose obligations have not yet been fully performed by both parties.
- Relating generally to execution or the carrying out of a plan, duty, or sentence.
"The lease remained executory until the tenant signed and delivered the final payment schedule."
"The court found that an executory contract existed because neither party had yet completed their obligations under the agreement."
"In bankruptcy proceedings, the debtor may choose to assume or reject any executory contract within a specified period."
In property law, an 'executory interest' can spring into being in the future — no signature required at the moment it takes effect.
Reviewed by Deb Chak, Editor. AI-assisted content curated by RJS Tech Solutions LLP.
Etymology of executory
"Executory" derives from the Latin verb "exequi" (also "executi"), meaning "to follow out, carry out, or perform," formed from "ex-" (out) plus "sequi" (to follow). The word entered English via Anglo-Norman and Medieval Latin legal usage during the late Middle English and early Modern English periods, when Latin-derived terminology was being codified in English law. It shares its root with "execute," "execution," "executor," and "executive," all of which preserve the core sense of carrying out or following through on an act.
How executory is actually used
"Executory" is primarily a technical legal term and rarely appears outside legal, commercial, or academic writing. It carries no emotional connotation but implies incompleteness — that some obligation remains outstanding. In everyday speech it would sound overly formal or pedantic.
Easily confused with executory
"Executive" relates to carrying out duties of management or administration, while "executory" is a legal term for obligations that are yet to be performed.
An "executor" is a person appointed to carry out a will, whereas "executory" describes contracts or interests whose terms remain unfulfilled.