The Rights of a Third Party Beneficiary Under a Contract

question 59

True/False

The rights of a third party beneficiary under a contract with two other parties vest when the conditions for vesting are satisfied.

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Definitions:

Net Outlay

The total amount invested or spent, minus any returns or reimbursements.

Options Strategy

A plan or approach for trading options that can involve buying and/or selling one or more options that differ in one or more of the options' variables.

Security

A financial instrument that represents an ownership position in a publicly-traded corporation (stock), a creditor relationship with a governmental body or a corporation (bond), or rights to ownership as represented by an option.

Gains

Profits realized from the sale of assets or from investment income, including dividends, interest, and capital gains.