A Third Party Who Is Not in Privity of Contract

question 74

True/False

A third party who is not in privity of contract but who has rights under the contract and can enforce the contract against the obligor is said to be an intended beneficiary.

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Definitions:

Direct Exporting

A method of entering a foreign market by selling goods directly to customers in another country, bypassing any intermediaries.

Back Translation

The process where a text is translated from one language to another and then translated back to the original language by a different translator to check for accuracy.

Market Entry Strategy

The strategic approach to providing products or services to a new audience and distributing them within that market.

Profit Potential

The capacity of a business or investment to generate earnings over time.