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In a Third-Party Liability (Dram Shop)lawsuit,who Is the Third Party

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In a third-party liability (dram shop) lawsuit,who is the third party?


Definitions:

Credit Period

The duration of time a buyer is given by a seller to pay for a purchase.

Cash Discount

An incentive offered by sellers to encourage buyers to pay their invoice ahead of the due date.

Discount Period

The time frame between the date a bill is issued and its payment date, within which payment may be made at a discount.

Credit Report

A detailed breakdown of an individual's credit history prepared by a credit bureau, used by lenders to determine creditworthiness.

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