What do you call a contract that has not been fulfilled by one or more parties?

A contract that has not been fulfilled by one or more parties is referred to as an executory contract. This term describes agreements where one or more obligations remain to be performed. In real estate, for example, if a buyer has signed a purchase agreement but the sale has not yet closed, the contract is executory, as the parties have ongoing responsibilities to fulfill.

In contrast, an executed contract is one where all parties have fulfilled their obligations, resulting in completion of the contract terms. A void contract is one that is not legally enforceable from the moment it is created, often due to illegal content or lack of capacity, meaning that it never had legal effect. An enforceable contract is valid and can be upheld in a court of law, but this term does not specifically address the status of performance by the parties involved. Therefore, the accurate designation for a contract with outstanding obligations is indeed an executory contract.