n. a person who is not a party to a contract but has legal rights to enforce the contract or share in proceeds because the contract was made for the third party's benefit. Example: Grandma enters into a contract with Oldfield to purchase a Jaguar automobile to be given to grandchild as a graduation present. If Oldfield takes a down payment and then...
Found on
http://dictionary.law.com/Default.xhtml?selected=2121
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 , arises where the third party (tertius or alteri) is the intended beneficiary of the contract, as opposed to a mere incidental ...
Found on
http://en.wikipedia.org/wiki/Third-party_beneficiary
Someone (third party) who has been beneficary to the contract though not a direct party to contract and having the right to sue.Normally the third party has no legal rights unless he is the beneficiary of such contract or agreement.
Found on
http://www.encyclo.co.uk/local/21213
A person who is not a party to a contract, but has legal rights to enforce the contract or share in proceeds because the contract was specifically intended for that person's benefit. For example, a grandparent contracts to buy a car for a grandchild. If the seller refuses to go through with the deal after receiving payment, the grandchild may sue, ...
Found on
http://www.nolo.com/dictionary/third-party-beneficiary-term.html
No exact match found.
