A Third-Party Beneficiary Is One Which

question 99

Multiple Choice

A third-party beneficiary is one which

• A) has failed to establish legal standing before the court.
• B) does not have privity of contract and is unknown to the contracting parties.
• C) does not have privity of contract, but is known to the contracting parties and intended to benefit under the contract.
• D) may establish legal standing before the court after a contract has been consummated.

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Definitions:

Nonfinancial Measures

Performance indicators that are not expressed in monetary units but are qualitative or quantitative measures of a company's performance, such as customer satisfaction.

Investment Center

A business unit or segment within a larger corporation, with control over its investments, expenses, and revenues, often judged by its return on investment.

Profit Margin

Profit margin represents the percentage of revenue that remains as profit after all expenses have been deducted, highlighting the financial health and profitability of a business.

Financial Data

Quantitative details about the financial status of a company, including balance sheet, income statement, and cash flow statement information.