Which of the Following Types of Third-Party Beneficiaries Can Acquire

question 75

Multiple Choice

Which of the following types of third-party beneficiaries can acquire enforceable rights under the original contract?

• A) incidental,donee,creditor
• B) incidental,donee
• C) creditor only
• D) donee only
• E) creditor,donee

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Definitions:

Termination Statement

A document filed to indicate that a previously filed security interest is no longer valid.

Filing

The process of submitting documents to a specified entity or office for official recording and recognition.

Amendment

A formal change or addition made to a document, law, or constitution.

Reasonable Expenses

Costs that are deemed necessary and appropriate under given circumstances, often in a legal or business context.