Examlex
According to the text,which of the following statements is TRUE?
Creditor Beneficiary
A third party that benefits from a contract, particularly one made between two other parties to pay a debt owed to the beneficiary.
Second-Party Beneficiary
An individual or entity that is not directly involved in a contract but stands to benefit from its execution, typically in contracts intended to benefit a third party.
Vesting
The process by which an individual acquires the right to a present or future payment, benefit, or asset, becoming fully guaranteed even if the individual's status changes.
Personal Service
Personal service is a type of service delivered by an individual to meet personal needs or requirements of customers, often characterized by direct interaction.
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