A third party's rights under a contract vest when the conditions for vesting are satisfied.

Question

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Third party rights under a contract are recognized when certain conditions for vesting are met. Once these conditions are satisfied, the third party obtains vested rights and can enforce the terms of the contract. This concept is often referred to as "vesting" or "vested rights." Therefore, the statement "a third party's rights under a contract vest when the conditions for vesting are satisfied" is true.

A Third Party's Rights Under a Contract Vest When the Conditions