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2. Third-party beneficiary - Wikipedia

   en.wikipedia.org/wiki/Third-party_beneficiary

   A donee beneficiary is when a contract is made expressly for giving a gift to a third party, the third party is known as the donee beneficiary. The most common donee beneficiary contract is a life insurance policy. In the United States, the Restatement (Second) of Contracts, Chapter 6, Sections 133-147, covers third-party beneficiaries. [5]

3. Delegation (law) - Wikipedia

   en.wikipedia.org/wiki/Delegation_(law)

   If the delegatee fails to perform satisfactorily, the obligee may elect to treat this failure as a breach of the original contract by the delegator or may assert himself as a third party beneficiary of the contract between the delegator and the delegatee, and can claim all remedies due to a third party beneficiary.

4. Option contract - Wikipedia

   en.wikipedia.org/wiki/Option_contract

   It is a general principle of contract law that an offer cannot be assigned by the recipient of the offer to another party. However, an option contract can be sold (unless it provides otherwise), allowing the buyer of the option to step into the shoes of the original offeree and accept the offer to which the option pertains. [8]

5. Collateral contract - Wikipedia

   en.wikipedia.org/wiki/Collateral_contract

   A theory sustains that is feasible to typify letter of credit as a collateral contract for a third-party beneficiary because letters of credit are prompted by the buyer’s necessity and in application of the theory of Jean Domat the cause of a letter of credit is that a bank issue a credit in favor of a seller to release the buyer of his ...

6. Assignment (law) - Wikipedia

   en.wikipedia.org/wiki/Assignment_(law)

   An assignment does not necessarily have to be made in writing; however, the assignment agreement must show an intent to transfer rights. The effect of a valid assignment is to extinguish privity (in other words, contractual relationship, including right to sue) between the assignor and the third-party obligor and create privity between the obligor and the assignee.

7. Letter of credit - Wikipedia

   en.wikipedia.org/wiki/Letter_of_credit

   The beneficiary is the person or company who will be paid under the letter of credit; this will normally be the seller (UCP600 Article 2 defines the beneficiary as "the party in whose favour a credit is issued"). The issuing bank is the bank that issues the credit, usually following a request from an applicant.