It Is Necessary That a Third-Party Beneficiary Be Identified by Name

question 8

True/False

It is necessary that a third-party beneficiary be identified by name.

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Definitions:

Common Stock

A type of corporate equity security that represents a share of ownership in a corporation, conferring voting rights and a portion of the profits (dividends).

Treasury Stock

Shares that were issued and subsequently reacquired by the issuing company, reducing shareholders' equity.

Stockholders' Equity

The ownership interest of shareholders in a company, calculated as the company's total assets minus its total liabilities.