EXECUTED. Something done; something completed. This word is frequently used
in connexion with others to designate a quality of such other words; as an
executed contract; an executed estate; an executed trust, &c. It is opposed
2. An executed contract is one which has been fulfilled; as, where the
buyer has paid thrice of the thing purchased by him. See Agreement.
3. An executed estate is when there is vested in the grantee a present
and immediate right of present or future enjoyment; and in another sense,
the term applies to the time of enjoyment; and in that sense, an estate is
said to be executed, when it confers a present right of present enjoyment.
When the right of enjoyment in possession is to arise at a future period,
only, the estate is executed that is, it is merely vested in point of
interest: when the right of immediate enjoyment is annexed to the estate,
then only is the estate vested in possession. 1 Prest. on Est. 62.
4. Trusts executed are, when by deed or will, lands are conveyed, or
devised, in terms or in effect, to and for the use of one person or several
persons, in trust for others, without any direction that the trustees shall
make any farther conveyance; so that it does not appear that the author of
the trusts had a view to a future instrument for accomplishing his
intention. Prest. on Est. 188.