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:

Latent Learning

Latent learning refers to knowledge that is acquired without immediate evidence of any change in behavior, which is revealed under certain conditions.

Learned Helplessness

A condition marked by an individual's struggle with feeling incapable, stemming from experiencing trauma or constant unsuccessful attempts.

Operant Conditioning

A method of learning that employs rewards and punishments for behavior, through which associations are made between a behavior and the consequences for that behavior.

Extinction

In the study of psychology, this term describes the slow reduction and final elimination of a conditioned response due to the absence of pairing between the conditioned and unconditioned stimuli.