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A benefactor (from Latin bene 'good' and factor 'maker') is a person who gives some form of help to benefit a person, group or organization (the beneficiary), often gifting a monetary contribution in the form of an endowment to help a cause.
What’s the difference between an irrevocable beneficiary and a primary beneficiary? A primary beneficiary is the person or entity first in line to receive the death benefit when the policyholder ...
Illinois Reports is the official reporter of the Illinois Supreme Court and the Illinois Appellate Courts. It is published by Thomson Reuters , under contract with the Illinois Supreme Court Reporter of Decisions .
A beneficiary in the broadest sense is a natural person or other legal entity who receives money or other benefits from a benefactor. For example, the beneficiary of a life insurance policy is the person who receives the payment of the amount of insurance after the death of the insured. In trust law, beneficiaries are also known as cestui que use.
It was then replaced by a "current law section" in the Illinois Bar Journal, which was published until 1949. That year, the University of Illinois Law Forum was established by students under the guidance of John E. Cribbet; it was renamed the University of Illinois Law Review in 1980. It was published quarterly until 2001, when the Board of ...
Using the same scenario with three beneficiaries (A, B and C) set to receive a $300,000 death benefit, if beneficiary C dies, the death benefit would now be split equally between the two remaining ...
A third-party beneficiary, in the civil 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 ...
At common law, if the residuary estate was divided between two or more beneficiaries, and one of those beneficiaries was unable to take, the share that would have gone to that beneficiary would instead pass by intestacy, under the doctrine that there was no residuary of a residuary.