If a contract has been signed but one party failed to fulfill their obligations, the contract is considered?

A contract where one party has signed but failed to fulfill their obligations is considered executory. This term refers to a contract that has not yet been fully performed on both sides. In this situation, even though one party has officially signed the contract, the ongoing obligations indicate that the contract is still in the process of being executed. Hence, the performance of one or both parties remains incomplete, which places the contract in the executory status until all obligations are satisfied.

In contrast, other terms like executed signify that the contract has been fully completed by all parties, while voidable refers to a situation where one party has the option to affirm or void the contract due to certain circumstances, and unenforceable means that the contract is valid but cannot be enforced in a court of law. In this instance, the failure of one party to fulfill their obligations clearly illustrates that the contract has not reached a state of full execution, thus making 'executory' the most fitting description.