Ch 8: Contract Law and Third Party Beneficiaries: Help and Review

About This Chapter

The Contract Law and Third Party Beneficiaries chapter of this College-Level Introductory Business Law Help and Review course is the simplest way to master contract law and third party beneficiaries. This chapter uses simple and fun videos that are about five minutes long, plus lesson quizzes and a chapter exam to ensure students learn the essentials of contract law and third party beneficiaries.

Who's it for?

Anyone who needs help learning or mastering college business material will benefit from taking this course. There is no faster or easier way to learn college business topics. Among those who would benefit are:

  • Students who have fallen behind in understanding third party beneficiaries or working with the parties involved
  • Students who struggle with learning disabilities or learning differences, including autism and ADHD
  • Students who prefer multiple ways of learning business content (visual or auditory)
  • Students who have missed class time and need to catch up
  • Students who need an efficient way to learn about third party beneficiaries
  • Students who struggle to understand their teachers
  • Students who attend schools without extra business learning resources

How it works:

  • Find videos in our course that cover what you need to learn or review.
  • Press play and watch the video lesson.
  • Refer to the video transcripts to reinforce your learning.
  • Test your understanding of each lesson with short quizzes.
  • Verify you're ready by completing the Contract Law and Third Party Beneficiaries chapter exam.

Why it works:

  • Study Efficiently: Skip what you know, review what you don't.
  • Retain What You Learn: Engaging animations and real-life examples make topics easy to grasp.
  • Be Ready on Test Day: Use the Contract Law and Third Party Beneficiaries chapter exam to be prepared.
  • Get Extra Support: Ask our subject-matter experts any contract law and third party beneficiaries question. They're here to help!
  • Study With Flexibility: Watch videos on any web-ready device.

Students will review:

This chapter helps students review the concepts in a Contract Law and Third Party Beneficiaries unit of a standard college business course. Topics covered include:

  • Third party beneficiaries and contracts
  • Vesting and enforceable claims
  • Right of promisors and promisees in contracts

6 Lessons in Chapter 8: Contract Law and Third Party Beneficiaries: Help and Review
Test your knowledge with a 30-question chapter practice test
Third-Party Beneficiaries & Contracts: Definition & Parties

1. Third-Party Beneficiaries & Contracts: Definition & Parties

There are two primary parties to a contract, a promisor and a promisee. However, there are times when a contract actually benefits a third party. These third parties are known as third-party beneficiaries and can be intentional beneficiaries or incidental beneficiaries.

Rights of a Beneficiary: Vesting & Enforceable Claims

2. Rights of a Beneficiary: Vesting & Enforceable Claims

Intentional third-party beneficiaries to a contract are indirect parties but receive a benefit from a contract because of the promise of a gift or receives a benefit because of a debt owed through performance by the promisee.

Rights of Promisors and Promisees in Contracts

3. Rights of Promisors and Promisees in Contracts

There are two parties to a contract, a promisor and a promisee. Each holds a responsibility to the contract but in different ways. As each role indicates, one party makes a promise, and the other party benefits from the promises made.

How to Write an Addendum to a Contract

4. How to Write an Addendum to a Contract

To modify aspects of a contract, an addendum is added to ensure all parties are in agreeance with the content. But what is an addendum exactly? In this lesson, you will learn what an addendum to a contract is, how to create an addendum, how to ensure the addendum is legal, and how to ensure that the addendum can be enforced.

Addendum vs. Appendix in Contracts: Definition & Difference

5. Addendum vs. Appendix in Contracts: Definition & Difference

When a contract is formed, the parties might want to make changes or additions. In this lesson, we will learn the difference between an addendum and an appendix to a contract.

Contract Addendum vs. Attachment

6. Contract Addendum vs. Attachment

Contracts contain multiple parts that can be confusing for any individual that is not well-versed in the subject. This lesson will define contract addendum and contract attachment, providing the reader with a comparison of the two.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
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Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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