- third-party beneficiary
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 specifically intended for that person's benefit. For example, a grandparent contracts to buy a car for a grandchild. If the seller refuses to go through with the deal after receiving payment, the grandchild may sue, even though not a party to the contract. Compare: incidental beneficiary.Category: Business, LLCs & Corporations → Self-Employed Consultants & ContractorsCategory: Representing Yourself in CourtCategory: Small Claims Court & LawsuitsCategory: Working With a Lawyer
Nolo’s Plain-English Law Dictionary. Gerald N. Hill, Kathleen Thompson Hill. 2009.
- 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.
Law dictionary. EdwART. 2013.
Look at other dictionaries:
third–party beneficiary — see beneficiary d Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 … Law dictionary
third party beneficiary — n. A person who is not a party to a contract but who will benefit from it and has rights under it. The Essential Law Dictionary. Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008 … Law dictionary
Third party beneficiary — A third party beneficiary, in the law of contracts, is a person who may have the right to sue on a contract, despite not having originally been a party to the contract. This right arises where the third party is the intended beneficiary of the… … Wikipedia
Third Party Beneficiary — A person who will benefit from a contract made between two other parties. This third party beneficiary was not a party to the contract itself, but if the contract is fulfilled, the third party stands to realize a benefit. Under certain… … Investment dictionary
Third-Party Beneficiary — An individual who can sue parties in a contract despite not being a party listed in the original contract document. The third party beneficiaries right to sue, called ius quaesitum tertio, comes from a party in the contract intending to involve… … Investment dictionary
third-party beneficiary — The beneficiary of a contract made between two other persons. 17 Am J2d Contr § 302 … Ballentine's law dictionary
third party beneficiary contract — in US law a contract that allows a party to whom the parties in a main contract intend to receive a benefit to enforce a duty created by the main contract, irrespective of an issue of consideration: Lawrence v . Fox 20 NY 268 (1859). English law… … Law dictionary
third-party beneficiary contract — A contract for the benefit of a third person. 17 Am J2d Contr § 302 … Ballentine's law dictionary
incidental third-party beneficiary — Same as incidental beneficiary … Ballentine's law dictionary
third party — see party 1a, b Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. third party n. A p … Law dictionary