What remedies are available if a representation turns out to be false?

Until the buyer has paid the full purchase price, and the seller has handed over the property, the contract is considered executory. The seller's obligation to ... Whether the operating agreement is executory will determine the extent to which a debtor in possession, a bankruptcy trustee, or a third party succeeds to ... Section 365(a) of the Bankruptcy Code provides that a trustee or debtor in possession may assume or reject an unexpired lease or executory contract. In many. "Residential executory real estate contract" means an installment land contract, lease option contract, or rent-to-own contract by which a purchaser acquires ... If the IASB were to take this approach, many executory contract assets and liabilities would be measured at zero (effectively not recognised) unless the ... May 28, 2021 ... The Third Circuit follows the “Countryman test” for determining whether a contract is executory or non-executory. The Bankruptcy Code refers to executory contracts in 11 USC § 365, it unfortunately does not provide a definition for this term. Dec 14, 2022 ... I. INTRODUCTION. Executory contracts are one of the most complicated and consequent- ial areas of bankruptcy law.1 Despite the importance of ... Executory proceedings are those which are used to effect the seizure and sale of property, without previous citation and judgment, to enforce a mortgage or ... Oct 1, 2012 ... Under the Bankruptcy Code, debtors and bankruptcy trustees are authorized to assume or reject executory contracts (and unexpired leases) in ...