The Rights of a Third Party Bene?ficiary Under a Contract

question 24

True/False

The rights of a third party bene?ficiary under a contract vest if the third party brings a suit on the promise.

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Definitions:

Reliability Tactic

Strategies or practices aimed at ensuring a system or component performs its required function under stated conditions for a specified period.

Individual Components

Distinct parts or elements that make up a complex product, system, or assembly.

Repair Speed

The rate at which damaged or malfunctioning products or equipment are restored to working order.

Providing Redundancy

The act of incorporating extra components, systems, or processes to increase reliability and avoid failure in case of a component breakdown.