What does the term "execution" refer to in a legal context?

In a legal context, the term "execution" primarily refers to the signing and delivery of an instrument, such as a contract or a legal document. This process is crucial because it signifies that the parties involved have agreed to the terms laid out in the document and are bound by those terms. The act of execution is what formally creates legal obligations and rights between the parties.

When a contract is executed, it demonstrates the intention of the parties to be legally bound by the agreement. This is an essential step in the creation of enforceable contracts, as merely negotiating terms without execution does not create any legal responsibilities. Thus, understanding this term is important, as it forms the basis for legal compliance and the enforcement of the agreement.

The other options pertain to different aspects of legal processes and documents but do not accurately capture the definition of "execution." Completion of a contract refers to fulfilling the obligations outlined therein, enforcement of a judgment relates to ensuring a court's decision is carried out, and negotiation of terms involves the discussions prior to reaching a legally binding agreement. Each of these concepts is relevant in the context of legal instruments but does not define "execution" directly.