A[n] ______ Beneficiary Is a Third Party Who Benefits from a Contract

question 35

Multiple Choice

A[n] ______ beneficiary is a third party who benefits from a contract in which the promisor agrees to pay the promisee's debt.

• A) Creditor
• B) Donee
• C) Incidental
• D) Promised
• E) Avowed

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Definitions:

High Status

High Status refers to the position of an individual or an entity that is considered superior or prestigious within a social or professional hierarchy.

Information

Data that have been processed into a form that is meaningful to the recipient and is of real or perceived value in current or prospective actions or decisions.

Clear Understanding

A comprehensive and unambiguous grasp of a concept, situation, or piece of information.

Binding

The action or process of securing or tying materials together, or the effect of a contractual or legal obligation that compels adherence.