Claimants to the status of third party beneficiary
have an even easier time in New Mexico.
2001) ("Under the third party beneficiary
theory, a court must look to the intentions of the parties at the time the contract was executed.
the process involves the letter of credit naming a third party Beneficiary
B, usually the seller of the goods subject to the transaction," according to a (http://library.
Intended third party beneficiary
claims will likely fare no better unless there is a certification made by a professional and the certificate contains the proper language that it is for the benefit of the persons to whom the offer is made.
Third Party Beneficiary
Prevents Setoff Against Prime
First, the question of individually enforceable rights in treaties is more structurally similar to the question of third party beneficiary
rights under contracts than to the issue of private rights of action in statutes.
Company-supplier contracts can also -- in theory, at least -- create benefits or protections for employees of third parties that could result in enforceable third party beneficiary
In terms of the privity issue, here is a newer case: A home purchaser is a third party beneficiary
of agreement between purchaser's lender and an appraisal company the lender has retained to supervise construction draws, and purchaser can recover consequential and circumstantial damages when appraiser negligently monitors payments.
By contrast, New York law recognises the concept of third party beneficiary
rights, and it is possible for a third party to derive a benefit under a contract to which it is not actually a party.
However, if the borrower has not contracted with the independent appraiser, he could possibly recover as a third party beneficiary
to the contract or under negligence in tort.
Calyon was a third party beneficiary
with respect to FGIC UK Ltd.
In addition to these administrative issues, the lender should make sure that it is named as a third party beneficiary
under the tenancy and management agreements.