The two parties involved in a contract have the obligation to execute the contract.

合同双方有义务履行合同。

youdao

"Agency" - a bilateral, onerous, consensual contract whereby one party, the principal, authorises another, the agent, to execute business on his behalf.

“代理”双边协商一致，当事人一方委托授权另一方以他的名义代理执行任务。

youdao

We also have pointed out, though, that the idea of a national moratorium would impact the recovery in the housing sector, as anybody that wished to enter into a contract or execute a contract to purchase a home that had previously been foreclosed on, that process stops.

WHITEHOUSE: Press Briefing