A Trust Inferred by the Courts to Benefit a Third

question 50

Short Answer

A trust inferred by the courts to benefit a third party to a contract is known as ________.

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Definitions:

Borrower in Default

A situation where a borrower fails to meet the legal obligations of a loan, such as not making scheduled payments.

Courses of Action

Different strategies or plans that an entity can choose to undertake in response to various scenarios or problems.

Quick Ratio

The quick ratio, or acid-test ratio, measures a company's ability to pay its short-term liabilities with its most liquid assets.

Inventory

The merchandise or stock that a business has on hand to sell to customers.