Printer Friendly
Dictionary, Encyclopedia and Thesaurus - The Free Dictionary
3,899,262,247 visitors served.
forum Join the Word of the Day Mailing List For webmasters
?
Dictionary/
thesaurus
Medical
dictionary
Legal
dictionary
Financial
dictionary
Acronyms
 
Idioms
Encyclopedia
Wikipedia
encyclopedia
?

third-party beneficiary

   Also found in: Wikipedia 0.01 sec.

third-party beneficiary n. a person who is not a party to a contract, but has legal rights to enforce the contract or share in proceeds because the contract was made for the third party's benefit. Example: Grandma enters into a contract with Oldfield to purchase a Jaguar automobile to be given to grandchild as a graduation present. If Oldfield takes a down payment and then refuses to go through with the sale, grandchild may sue Oldfield for specific performance of the contract as a third-party beneficiary.



Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content.
?Page tools
Printer friendly
Cite / link
Feedback
Add definition
Mentioned in?  References in periodicals archive?   Legal browser?   Full browser?
 
Consequently, the plaintiff can argue that he or she was an intended third-party beneficiary of the contract between the premises owner and the defendant, and privity of contract exists.
The insurance company has alleged that the school district had no policy and was not covered as a third-party beneficiary in any existing policy.
While we agree with Judge Harris' position that the creditor is not a third-party beneficiary of the agreement between the depositor and the bank, in a garnishment proceeding, the courts should deem the creditor to have a direct contract with the bank as the de jure subrogee or assignee of the depositor against the financial institution.
 
 
 
Legal Dictionary
?

Terms of Use | Privacy policy | Feedback | Advertise with Us | Copyright © 2012 Farlex, Inc.
Disclaimer
All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional.