answersLogoWhite

0

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.

User Avatar

Wiki User

10y ago

What else can I help you with?

Related Questions

Where is the predicate- Tracy bought a gift for the party?

Bought , party


If a third party makes loan payments is this taxable income to the borrower?

Yes. Unless done as a gift.


Where can I purchase airline gift certificates for a special occasion?

You can purchase airline gift certificates for a special occasion directly from the airline's website or through third-party gift card retailers.


Where can I purchase flight gift vouchers for a special occasion"?

You can purchase flight gift vouchers for a special occasion directly from the airline's website or through third-party gift card retailers.


What gift will you be giving for the upcoming birthday party?

I will be giving a book as a gift for the upcoming birthday party.


If a classmate gave you a gift at your party do you give a gift to him who is not having a party?

If you received a gift from someone at your birthday party, your only requirement is to send a thank you note or card. If you are invited to a birthday party, you should bring a gift, however if this person is not having a party you do not have to give them a gift. You may choose to acknowledge the birthday with a small gift, a card or your personal good-wishes.


Do you give give gift at a going away party?

If it is the host that is leaving and the party is for them then yes, you do give a gift. If they are hosting the party for a friend or family member then you would give the gift to the person leaving.


How do you get the dragon costume on club penguin?

The Dragon Costume is only available during the annual Medieval Party. The party is in around May. It can be bought in the Gift Shop. (during the party, it is called the "Market")


Does the recipent of a gift pay tax?

Gift taxes are owed by the party who gives the gift and not the recipient.


Is the Spooky Sweets & Treats: Halloween Gift Basket good for a party?

It would be rather expensive to give away as a party gift, its more than less a gift for a child.


If a third party makes payments on a student loan or donates money to help someone pay off his or her student loan debt is the dontation tax-deductible?

No. That's considered a gift, not a charitable donation. You might actually be liable for a gift tax.


Who is responsible to pay for a service when it is given as a gift?

This situation can be complicated if there is a third party involved. The gift giver is responsible for paying for a gift. However, if the giver told the recipient to order and arrange the service and that the giver would reimburse the recipient, the recipient is responsible for paying the provider and must pursue the giver for reimbursement.