In a real estate context, what primarily defines a unilateral executed contract?

A unilateral executed contract is characterized by the fact that only one party has fulfilled their obligation under the contract, while the other party has not yet established any mutual obligations. This means that one side has completed their part of the agreement, which indicates that the contract is fully carried out from that party’s perspective.

In this scenario, the completed agreement exists without requiring any obligation from the other party at that moment, which distinctly defines it as unilateral. This understanding differentiates it from other types of contracts that involve mutual promises, where both parties are equally bound to perform certain actions or obligations.

Therefore, recognizing the one-sided nature of executed contracts allows for clarity in various real estate transactions where obligations may not be shared equally.