About This Chapter
Below is a sample breakdown of the Contract Law and Third Party Beneficiaries chapter into a school week. Based on the pace of your course, you may need to adapt the lesson plan to fit your needs.
|Day||Topics||Key Terms and Concepts Covered|
|Monday||Third-party beneficiaries and contracts||Promisor, promisee, third party beneficiaries, intentional beneficiaries, breach of contract, incidental beneficiaries|
|Tuesday||Rights of a beneficiary||Donee beneficiaries, creditor beneficiaries, assent, vesting, enforceable claims|
|Wednesday||Rights of promisors and promisees||Roles of the promisor and promisee in the performance of a contract, satisfying the element of consideration|
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.
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.
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.
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