If a Third Party Will Be Affected by a Contract

question 22

True/False

If a third party will be affected by a contract, the parties to the contract are in privity with the third party.

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Definitions:

Individualism

A social theory favoring freedom of action for individuals over collective control and emphasizing the importance of individual self-reliance and personal independence.

Cultural Value

The shared beliefs or norms that shape the behaviors and practices of individuals within a society or organization.

Children's Development

The physical, cognitive, emotional, and social growth that occurs from infancy through adolescence.

Power Distance

A cultural dimension that describes the extent to which less powerful members of organizations and institutions accept and expect that power is distributed unequally.