0
What else can I help you with?
Who is third party under an insurance contract?
The third party is the injured party to whom any compensation is paid
When an assignment is made as a gift the third party is called?
When a gift to a third party comes out of an agreement or a contract between two people, he is called the beneficiary. The third-party beneficiary is not obligated to any performance in the contract.
What are third parties.?
A contract between two people is between the first party and the second party. Anyone else is a third party. An insurance policy is a contract between a driver and an insurance company and deals with injury to someone else, who is a third party.
How does a third party accept novation?
The third party adopts the rights and obligations of one of the parties under the old contract
What are the implications of third party contract rights in legal agreements?
Third party contract rights in legal agreements refer to the ability of a third party to enforce or benefit from a contract between two other parties. The implications of this include potential legal complexities, increased accountability, and the need for clear and specific contract language to protect all parties involved.
What is an example of a third party beneficiary contract?
A third-party beneficiary contract is an agreement where a third party gains rights or benefits from the contract, even though they are not one of the primary parties involved. For example, if a parent purchases a life insurance policy and names their child as the beneficiary, the child is a third-party beneficiary. In this case, the insurance company has a contractual obligation to pay the child upon the parent's death, even though the child did not participate in the contract negotiations.
What is the process for obtaining third party indemnity in case of a breach of contract?
To obtain third party indemnity in case of a breach of contract, the party seeking indemnity must typically demonstrate that the third party has a legal obligation to provide compensation or cover losses resulting from the breach. This may involve reviewing the terms of the contract, assessing the extent of the breach, and formally requesting indemnification from the third party through legal channels if necessary.
Is a verbal agreement valid if it was made with a third party?
Probably not. There are very few circumstances where a third party can bind someone to a contract.
What does third party beneficiary imply?
It's the party for whom the insurance was purchased to save his interest if the contracting party was proved to be liable against him
What are the internal contract and external contract?
internal contract is a contract that exists between the principal and agent. external contract is a contract that exists between the principal and a third party.
Under a Service Contract with employees represented by a Union Is it permissible for the union to collect Health and Welfare benefits and not offer a third party insurance or pay the employee?
this should be out-lined in the contract. did you read the contract before you voted on it ??
What are the allegations on queens park rangers?
The club is alleged to have signed a player who also has a contract with a third party. i.e. that the contract signed between the player and QPR is superseded by a prior contract. This happened once before when West Ham 'signed' Carlos Tevez and Javier Mascherano but it was later proven that the players activities were 'owned' by a third party. i.e. West Ham had not actually signed a contract with the two players but in fact this third party. see "Third party ownership in association football" in Wikipedia who have xplained it better than me.
