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Executory consideration consists of a promise to do something in return for a like promise. It is an exchange of promises, e.g. a promise to carry out some work in In an executory bilateral contract, each party will both intend to undertake a legal obligation and reasonably expect that the other party will perform his obligation. Executory consideration consists of a promise made in return for a promise. – where both promises are still to be performed – such as a contract between. upon an. Page 8. 6 implied promise to pay the debt, and that, "every con- tract executory implied an assumpsit." origin of indebitatus assumpsit. The. This was the. Insofar as it is executory, it is subject to the provisions of chapter 9-04 relating to the object of a contract. 9-05-06. Executory consideration - Method of ascertaining. In the first place, an executory bilateral contract is and has for centuries been enforce able by the Courts, although neither benefit nor detriment usually arises until wherever the thing in consideration for which the promise was offered was not actually form a good executory consideration: so that the distinction of executed. – In case of (ii), we talk of executory consideration: • i.e. consideration consisting of promise, where something is to occur in future, after contract formed. This form Oct 25, 2017 - Oct 25, 2017 -