When Two Parties Enter into a Contract with the Intended

question 89

Multiple Choice

When two parties enter into a contract with the intended end purpose of benefiting a third party, a[n] ________ is created.

• A) Third-party beneficiary
• B) Second-party beneficiary
• C) First-party beneficiary
• D) Assignment
• E) Creditor Beneficiary

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Definitions:

Hydrograph

a graph showing the rate of flow (discharge) versus time past a specific point in a stream, river, or other channel.

Snowmelt

The runoff produced by melting snow.

Hundred-year Flood

is a term used to describe a flood event that has a 1% chance of occurring in any given year, used as a standard metric in flood risk assessment.

Probability

The statistical description of the likelihood that an event will occur.