Instructions: Identify the Terms and Briefly State Their Historical Significance

question 31

Short Answer

Instructions: Identify the terms and briefly state their historical significance..
Parsis

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Definitions:

Beneficiary

An individual or entity entitled to benefits or proceeds from an insurance policy, trust, will, or other contracts.

Donee Beneficiary

A third party who benefits from a contract made between two other parties, where the intent is to benefit the third party.

Gratuitous Assignment

A transfer of rights or property without consideration or payment from the recipient.

Written Statement

A formal, documented expression of facts or opinions, which is signed and usually legally binding.