Executory consideration is defined as

• A. A promise that is already fully performed.
• B. A promise that is already completed.
• C. A promise which has no future obligation.
• D. A promise which will be fulfilled in the future.

Answer: (D)

Executory consideration means a promise to perform in the future. In contracts, consideration is what each party gives or promises in exchange for the other’s promise. When one side has yet to perform and commits to do something later, that promise is executory consideration. For example, agreeing to pay £500 once work is completed next month creates executory consideration because both the payment and the work are to happen in the future. The other descriptions describe promises that have already been fulfilled or that have no ongoing obligation, which don’t capture the idea of future performance. Hence, a promise which will be fulfilled in the future is the correct description.