If Valley Bridge Contracts with Rainbow Painters to Paint a Bridge

question 14

True/False

If Valley Bridge contracts with Rainbow Painters to paint a bridge and the contract requires that only Sherwin Williams paint be used,then Sherwin Williams,as third party beneficiary,will be able to enforce the contract against either Valley Bridge or Rainbow Painters.

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Definitions:

Bearing Fewer Children

The trend or individual choice of having a reduced number of offspring compared to previous generations.

General Partner

A partner who has unlimited liability.

Limited Partner

The partner’s liability is limited to the amount of investment in the partnership.

Mutual Partner

Relates to a type of partnership where all partners share equally in the responsibilities, profits, and losses of the business.