A third-party beneficiary is one which

Question

Quizplus · Accepted Answer

A third-party beneficiary is someone who is not a party to the contract but is intended to benefit from it. They do not have privity of contract, meaning they are not directly involved in the transaction or have a legal relationship with the parties involved. However, they are known to the parties and their benefit is intended, making them a valid beneficiary under the contract. Option A, B, and D are incorrect as they do not accurately define a third-party beneficiary.

A Third-Party Beneficiary Is One Which