A contract is fully executed when: the sale is closed.
A contract is a legally enforceable agreement that establishes, defines, and controls the mutual rights and obligations between parties. Contracts typically include the transfer of goods, services, money, or promises to transfer at a future date.
A contract is an agreement between private parties that creates mutually enforceable obligations. The basic elements necessary for a contract to be legally enforceable contract are good care; capacity; and legality.
Contracts are the heart of commerce. They are mutual agreements between two (or more) parties that, when signed, create legal obligations that each party must comply with. This can be as simple as buying a product or selling a service.
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