Will anyone pls eleborate executed consideration with respect to past consideration and executory consideration with respect to future consideration
In the case of executed consideration the promise and the act are integral parts of the same transaction; where the consideration is past the promise is given subsequent to, and quite independently of, the act. Executory or future consideration is one that takes the form of a promise to be performed in the future. It is the price promised by one party in return for the other partyâ??s promise.