In Some States,the Vesting of a Third Party's Rights Occurs

question 18

True/False

In some states,the vesting of a third party's rights occurs only when the third party learns of the contract and assents to it.

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Definitions:

Less Liquid

Describes assets that cannot be easily converted to cash without significant loss in value, relative to more liquid assets.

Roundabout Trade

Trade activities that involve the importing and exporting of goods through intermediate destinations rather than directly between the primary source and final destination.

Double-Coincidence

The situation in a barter system where two parties each possess an item the other wants, enabling an exchange without the need for a medium of exchange like money.

Barter

Trading goods or services directly without the use of money as a medium of exchange.