Emory Bankruptcy Developments Journal


Seong-hee Lee


The executory contract analysis under § 365 of the Bankruptcy Code has long challenged judges, practitioners, and scholars. The challenge of understanding the purpose of § 365 and reaching an equitable result thereafter is most profound when confronting installment land contracts. The parties to an installment land contract, typically the purchaser, can become insolvent and enter bankruptcy, and consequently, the rights of the parties may be altered dramatically as a result of applying bankruptcy law.