third party

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Third Party

A generic legal term for any individual who does not have a direct connection with a legal transaction but who might be affected by it.

A third-party beneficiary is an individual for whose benefit a contract is created even though that person is a stranger to both the agreement and the consideration. Such an individual can usually bring suit to enforce the contract or promise made for his or her benefit.

A third-party action is another name for the procedural device of Impleader, which is used in a civil action by a defendant who wants to bring a third party into a lawsuit because that party will ultimately be liable for all, or part of, the damages that may be awarded to the plaintiff.

third party

n. a person who is not a party to a contract or a transaction, but has an involvement (such as a buyer from one of the parties, was present when the agreement was signed, or made an offer that was rejected). The third party normally has no legal rights in the matter, unless the contract was made for the third party's benefit.

third party

a party who is a stranger to a transaction or proceeding between two other persons.
References in periodicals archive ?
Zhejiang Shangmeng Technology Limited Company holds a license from the People's Bank of China to provide third-party payment services in China.
Berry's problem these days is finding another physician who shares his distaste for the third-party payment system enough to take a leap and join him in his clinic.
It is possible to examine that hypothesis by comparing the growth in expenditures over several decades for various medical products that have considerable variation in the degree of third-party payment.
Stimulated by payment licensing, also relying on the general trend of traditional enterprise networking and the expansion of third-party payment companies in numerous industrial market segments, the internet payment market still maintains a high-speed development trend.
It also added its own third-party payments through programs such as Medicaid and Medicare.
The tightening of regulatory policy towards third-party payment advanced the rectification of traditional offline acquiring market -- a primary cause of shrinkage in the offline acquiring market.
The central bank of China convened a meeting of executives of more than 20 commercial banks and third-party payment companies deal with Bitcoin to discuss important issues.
com/research/frvs3n/indepth_research) have announced the addition of the "In-Depth Research and Forecast of China Third-Party Payment Market, 2013-2017" report to their offering.
The country's central bank has sought opinion from third-party payment companies until Thursday.
The event will be relevant to virtually all ACH payments professionals, from third-party payment processors to financial institutions.
com/research/4hsqkh/china_thirdparty) has announced the addition of the "China Third-Party Payment Industry Report - Forecasts to 2016" report to their offering.