Definition of "executory" [ex•ec•u•to•ry]

  • Of or relating to execution or administration; executive. (adjective)
  • In effect; operative. (adjective)
  • Law Intended to go into effect or having the potential of becoming effective at a future time; contingent. (adjective)

American Heritage(R) Dictionary of the English Language, Fifth Edition. Copyright (c) 2011 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

Use "executory" in a sentence
  • "In both instances, however, the investors' lawyers balked at Lehman's plan because the liquidating investment bank intends to assume the derivatives deals as so-called executory contracts—that is, a contract under which both parties still have performance obligations remaining."
  • "Yesterday's term was executory, which is defined as:"
  • "This clause is self-executory, that is to say, its enforcement is dependent upon the judicial process."