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executor
(redirected from executory)

    Also found in: Dictionary/thesaurus, Legal, Financial, Wikipedia 0.03 sec.

executor

In law, a person appointed in a will to carry out the instructions of the deceased. A person so named has the right to refuse to act. The executor also has a duty to bury the deceased, prove the will, and obtain a grant of probate (that is, establish that the will is genuine and obtain official approval of his or her actions).

The executor must also pay the liens, fees, and taxes on the estate before distributing the estate property to the heirs.
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The general cited specific examples used at Tinker in both the preparatory and executory phases.
Air Force Materiel Command (Sept. 27, 2006): AFMC vice commander ... by Lopez, Kathleen A.K. / Defense AT & L
The employees retained legal title to the property; there was no intention to transfer ownership; the sales contracts were executory in nature, only executed if the property were not sold to a third party within a year; and the employee received any profits beyond the original contract price.
Service clarifies position on employer payments to relocation service ... by Schell, Wayne M. / The Tax Adviser
FASB plans to spend the rest of this summer assessing several key issues: defining when contract performance has occurred, identifying a unit of account for partially executory revenue contracts, determining when performance obligations should be measured for nonperformance-related events, considering the measurement of contract assets and discussing a revised definition of revenue and how to distinguish revenue from other components of comprehensive income.
Making sense of revenue recognition: revenue "mis-recognition," the ... by Cheney, Glenn A. / Financial Executive
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