In a Third-Party Beneficiary Contract, the Third Party's Rights Arise

question 68

True/False

In a third-party beneficiary contract, the third party's rights arise after the original contract is formed.

---

Definitions:

Sustainability Efforts

Initiatives aimed at maintaining ecological balance and reducing environmental impact through responsible practices.

Political Barriers

Refers to government-imposed restrictions that affect international trade and investment.

Philanthropic

Pertaining to the act of donating money, goods, time, or effort to support a charitable cause, often without expecting anything in return.

Legal

Pertains to the system of rules that are created and enforced through social or governmental institutions to regulate behavior, ensuring equity, justice, and fairness in society.