Executory Law and Legal Definition

Executory refers to something incomplete, unfinalized, or yet to be accomplished. For example, an executory contract is one in which all or part of the required performance has not been performed; an executory bequest is a gift under a will which has not been distributed to the beneficiary. In another example, a trust is said to be executory where an additional act is required of the author of the trust himself or by the trustees, to give it its full, effect. In this sense, the trust is executory because rights under the trust have not vested.