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 ?
Ethics officers are focusing on day-to-day compliance, policy and training tactics, leaving little room to focus specifically on third party risk assessments and management," said Randy Stephens, vice president of advisory services with NAVEX Global.
In addition, the RSC paid the cost of maintaining the residence until a third party purchased the property, including mortgage and property tax expenses (although the employee continued to be legally responsibility for those items).
The initial victim jurisdiction did not include the original vendor's address on the registry; therefore, the letter and power of attorney form, drafted by the third party, likewise did not contain an address or any other contact information regarding the vendor it supposedly represented.
Liability insurance protection against third party cyberspace threats/risks is incomplete.
In selecting third parties, companies should confirm that the third party will adhere to FCPA anti-corruption principles.
A person who provides personal, nonpublic information to obtain financial, investment or economic advisory services, regardless of whether there is a continuing customer relationship, is also entitled to notice prior to, and the ability to opt out of, any actual disclosure of such information to a non-affiliated third party.
Such candidates, she sniffs, "do not so much complement and correct the dominant parties as mimic them," adding that "if Jesse Ventura's success is any indication, the twenty-first century third party is more likely to intensify the libertarian leanings of liberalism than to challenge such fundamental separations as those between public and private, state and market, national order and global order.
It's sort of the cloud that hovers over every third party.
To help students understand the role of America's smaller political parties,specifically how they contribute to the dialogue on key issues--and how a third party outpolled one of the two major parties in 1912, when former President Theodore Roosevelt took on President William Howard Taft.
m) (1) Nonaffiliated third party means any person except:
It should be noted that the survey instrument explicitly defined third-party logistics as "a relationship between a shipper and third party which, compared with basic services, has more customized offerings, encompasses a broader number of service functions, and is characterized by a longer-term, more mutually beneficial relationship.
In an effort to persuade the court that a third party beneficiary relationship existed between it and the sub, the owner argued that the language of Article 1.