A buyer and seller agreed upon a selling price for a property and both signed a written agreement. As part of the contract, the buyer reserved the right to cancel the sale if the buyer’s house, which was on the market, did not sell within 30 days. This contract is:

An executed contract is one where all parties have fulfilled their obligations, meaning that the contract is complete and no further actions are required. In this scenario, the contract is not executed because the buyer's obligation is contingent on the sale of their house, which has not yet occurred.

A unilateral contract involves a promise made by one party in exchange for an act by another party. In this case, both the buyer and seller have made commitments in the agreement, indicating that it does not fit the definition of a unilateral contract, which requires only one party to act.

An implied contract is formed by the actions or conduct of the parties involved rather than through explicit written or spoken words. This scenario involves a written agreement between the buyer and seller, making it a formal contract rather than an implied one, which relies on the circumstances and actions alone.