Discuss Defenses Available to the Promisor in an Action by an Intended

question 33

Essay

Discuss defenses available to the promisor in an action by an intended third-party beneficiary to enforce the promise.

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Definitions:

Financing

The process of providing funds for business activities, making purchases, or investing.

Venture Capitalist

An investor who provides capital to startup ventures or supports small companies that wish to expand but do not have access to equities markets.

Demoted

The act of reducing someone's rank, status, or position as a punitive measure or due to organizational restructuring.

Convertible Debt

A form of short-term borrowing that can be turned into equity, typically a predetermined number of shares, either upon future financing or at the discretion of the investor.