What Tests Do the Courts Use to Determine Whether a Party

question 44

Essay

What tests do the courts use to determine whether a party is an intended or incidental beneficiary?

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Definitions:

Transformation

The process of changing or converting one form or state of something into another, often seen in manufacturing and industry.

Opportunity Cost

The cost of forgoing the next best alternative when making a decision or choosing to consume or produce one good or service over another.

Ppf

The Production Possibility Frontier, a curve depicting the maximum output possibilities for two goods, given available resources and technology.

Efficiently

The method of performing or functioning in the best possible manner with the least waste of time and effort.