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Ch 8: Contract Law and Third Party Beneficiaries

About This Chapter

Watch contracts: law and third-party beneficiaries video lessons and learn about enforceable claims, vesting, rights of a beneficiary, and more. These video lessons are short and engaging and make learning easy!

Contracts: Law and Third Party Beneficiaries - Chapter Summary and Learning Objectives

In the law of contracts, sometimes people who weren't involved in the original contract have the right to sue over it or take other legal action. In this chapter, our instructor will explain who third-party beneficiaries are, what rights they have, and how they can affect standing contracts. You'll learn to define key concepts like incidental and intended beneficiaries and enforceable claims. As with most areas of contract law, there are delineated steps necessary for a third party to take action, and you'll learn about this process. After completing this chapter, you should be able to:

  • Define third-party beneficiary, incidental beneficiary, and intended beneficiary
  • Explain the rights of third-party beneficiaries
  • Describe the process of vesting
  • Understand who may be a beneficiary of a government contract

VideoObjective
Third-Party Beneficiaries and Contracts: Definition and PartiesUnderstand which parties may have the right to sue on a contract without being originally involved.
Incidental vs. Intended Beneficiaries: Definitions and DifferencesLearn the difference between parties who stand to benefit from contracts and those who have been promised certain terms.
Right of a Beneficiary: Vesting and Enforceable ClaimsExplore the vesting process and how this affects the beneficiary's rights.
Rights of Promisors and Promisees in ContractsUnderstand what rights the different parties involved in contracts have to bring forth an action.
Intended Beneficiaries of Government Contracts: Rights and ExamplesLearn about third-party beneficiaries in the realm of governmental contracts.

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