In a bilateral contract, a party who makes a promise that benefits a third party is a promisor.

Name: In a bilateral contract, a party who makes a promise that benefits a third party is a promisor.
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In a bilateral contract, a party who makes a promise that benefits a third party is known as a promisor. This is because the promisor is making a promise to do something for someone else, and is therefore obligated to fulfill that promise.

In a Bilateral Contract, a Party Who Makes a Promise