Question

the buyer has made an offer that the seller has accepted, and proper notice has been given to the buyer of the seller's acceptance. the offer is now considered

Answer 1

In a case whereby the buyer has made an offer that the seller has accepted, and proper notice has been given to the buyer of the seller's acceptance. the offer is now considered executory contract.

What is an executory contract?

An executory contract can be described as the  ongoing agreement that  two parties entered to, whereby they are responsible for completing certain obligations at set period of time.

It should be noted that  this written agreements ensure each party is clear about their o responsibilities, hence In a case whereby the buyer has made an offer that the seller has accepted, and proper notice has been given to the buyer of the seller's acceptance. the offer is now considered executory contract.

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