third-party contract

See third-party beneficiary contract.

Ballentine's law dictionary. . 1998.

Look at other dictionaries:

  • third party — see party 1a, b Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. third party n. A p …   Law dictionary

  • Third party — is often used in the English language in connection with any relationship between two parties or entities to refer to some other person or entity with some involvement, and may refer to:* Third party (politics), in any two party system of… …   Wikipedia

  • third-party beneficiary — 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… …   Law dictionary

  • third party beneficiary contract — in US law a contract that allows a party to whom the parties in a main contract intend to receive a benefit to enforce a duty created by the main contract, irrespective of an issue of consideration: Lawrence v . Fox 20 NY 268 (1859). English law… …   Law dictionary

  • third party beneficiary — n. A person who is not a party to a contract but who will benefit from it and has rights under it. The Essential Law Dictionary. Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008 …   Law dictionary

  • Third party beneficiary — 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 a party to the contract. This right arises where the third party is the intended beneficiary of the… …   Wikipedia

  • third party — One not a party to an agreement, a transaction, or an action but who may have rights therein. See also party privity @ third party action A proceeding distinct from the main action. It is in the nature of an indemnity or contribution, the purpose …   Black's law dictionary

  • Third Party Beneficiary — A person who will benefit from a contract made between two other parties. This third party beneficiary was not a party to the contract itself, but if the contract is fulfilled, the third party stands to realize a benefit. Under certain… …   Investment dictionary

  • Third-Party Beneficiary — An individual who can sue parties in a contract despite not being a party listed in the original contract document. The third party beneficiaries right to sue, called ius quaesitum tertio, comes from a party in the contract intending to involve… …   Investment dictionary

  • third party — The party that is a customer of either a direct or indirect system member. It is not known by the system transaction administrator, and does not have any liability nor rights, vis à vis the system. Euroclear Clearing and Settlement glossary * * * …   Financial and business terms

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