executed
Definition
In legal language, 'executed' simply means that a document has been signed and completed by all the parties involved, making it officially valid and binding. It can also mean that all the terms of a contract have been fully carried out and there is nothing left to do.
Example
When you and a vendor both sign a service agreement, that contract is considered executed and both parties are now legally bound to its terms.
Watch Out
People sometimes confuse 'executed' with 'expired,' but an executed contract is an active, completed agreement, not one that has ended.
See which terms appear in your contract?
This definition is for informational purposes only and does not constitute legal advice. Please consult with a licensed attorney for legal guidance.