Asked by Deneatra Caesar on May 07, 2024
Verified
An intended beneficiary is an outside party that can legally enforce the contract against all,except for those in privity of contract.
Intended Beneficiary
A third party in whose favor a contract is made.
Privity of Contract
A doctrine in contract law that prohibits any person who is not a party to a contract from enforcing or being bound by the terms of that contract.
Legally Enforce
The capability to impose compliance or execution of a law, agreement, or obligation through legal processes or judicial intervention.
- Recognize the roles and rights of third parties in contracts, including assignees, beneficiaries, and obligors.
Verified Answer
Learning Objectives
- Recognize the roles and rights of third parties in contracts, including assignees, beneficiaries, and obligors.
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