Identify and Explain Two Situations in Which Legislation Allows a Stranger

question 67

Essay

Identify and explain two situations in which legislation allows a stranger to sue on a contract that was made for its benefit.

---

Definitions:

Profitable New Products

Goods or services newly introduced to the market that generate earnings exceeding their cost of production and marketing.

New Venture Creation

The process of designing, launching, and running a new business or startup.

Market Niche

A specialized segment of the market for a particular kind of product or service, characterized by specific customer needs and preferences that the business aims to fulfill.

First-Mover Advantage

Comes from being first to exploit a niche or enter a market.