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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 an active party to the contract. This right, known as a ius quaesitum tertio , [ 1 ] arises when the third party ( tertius or alteri ) is the intended beneficiary of the contract, as opposed to a mere ...
For example, a collateral contract is formed when one party pays the other party a certain sum for entry into another contract. A collateral contract may be between one of the parties and a third party. It can also be epitomized as follows: a collateral contract is one that induces a person to enter into a separate "primary" contract.
Management contract companies have information on business finance also. This puts the business in a vulnerable position. Hiring an outside contractor makes it difficult for the business to foresee the number of conflicts that can occur. For example, a business owner hires a contract management company for the operations of the company.
contract negotiation and promotion (business management) such as for publishing, fashion model, music, movies, theatre, show business, and sport. An agent in commercial law (also referred to as a manager) is a person who is authorized to act on behalf of another (called the principal or client) to create a legal relationship with a third party.
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Third-party insurance - A third party may claim under an insurance policy made for their benefit, even though that party did not pay the premiums. Contracts for the benefit of a group , where a contract to supply a service is made in one person's name but is intended to sue at common law if the contract is breached; there is no privity of ...
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