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6. What constitutes executory consideration?
- When parties exchange promises to do something in the future
- Where the contract has been executed
- Where no consideration has been given and the contract is not enforceable
7. Executory consideration is found in bilateral contracts and once promises have been exchanged, the agreement is binding
8. What constitutes executed consideration?
- Where consideration moves from the promisee
- When a party has performed his part of the contract
- Where the contract has been executed
9. Executed consideration is found in unilateral contracts