Executory consideration
An executory consideration is a promise made by one party in exchange for a promise
made or an act done by the other. Where the consideration is a promise to be
performed in the future, it is executory. A promise is an executory consideration
that something will be done in the future.
An example of this would be where a customer orders goods which a shopkeeper
undertakes to obtain from the manufacturer. The shopkeeper promises to supply the
goods, and the customer promises to accept and pay for them. Neither has done
anything but each has given a promise.