Examlex
Which of the following statements is/are true of catalyst?
1. A catalyst is a substance that speeds up a reaction without being consumed itself.
2. A heterogeneous catalyst is one that is present in the same phase (physical state) as the reacting molecules.
3. A homogeneous catalyst is one that is present in a different phase (physical state) from the reacting molecules.
Creditor Beneficiary
is a third party that benefits from a contract wherein the promisor agrees to pay the promisee's debt to the third party.
Incidental Beneficiary
An incidental beneficiary is a third party who may benefit from a contract between two other parties, even though the benefits were not directly intended for them.
Privity of Contract
The legal principle that a contract confers rights and imposes obligations only on the parties to the contract, barring any third party from enforcing or interfering with the agreement.
Policy Proceeds
The amount paid out on an insurance policy, typically upon the occurrence of the event insured against.
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