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executory

   Also found in: Legal, Financial, Wikipedia, Hutchinson 0.03 sec.
ex·ec·u·to·ry  (g-zky-tôr, -tr)
adj.
1. Of or relating to execution or administration; executive.
2. In effect; operative.
3. Law Intended to go into effect or having the potential of becoming effective at a future time; contingent.
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The general cited specific examples used at Tinker in both the preparatory and executory phases.
Air Force Materiel Command (Sept. 27, 2006): AFMC vice commander ... by Lopez, Kathleen A.K. / Defense AT & L
The employees retained legal title to the property; there was no intention to transfer ownership; the sales contracts were executory in nature, only executed if the property were not sold to a third party within a year; and the employee received any profits beyond the original contract price.
Service clarifies position on employer payments to relocation service ... by Schell, Wayne M. / The Tax Adviser
FASB plans to spend the rest of this summer assessing several key issues: defining when contract performance has occurred, identifying a unit of account for partially executory revenue contracts, determining when performance obligations should be measured for nonperformance-related events, considering the measurement of contract assets and discussing a revised definition of revenue and how to distinguish revenue from other components of comprehensive income.
Making sense of revenue recognition: revenue "mis-recognition," the ... by Cheney, Glenn A. / Financial Executive
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