Examlex
________ is a method for dividing on-hand inventory into three classifications based on annual dollar volume.
Beneficiary
A person or entity entitled to receive benefits or assets under a legal arrangement or instrument, such as a will, trust, or insurance policy.
Third-party Beneficiary
An individual or legal entity that gains a benefit from a contract despite not being one of the primary parties involved.
Creditor Beneficiary
A third party that benefits from a contract wherein the promisor agrees to pay the promisee's debt to the beneficiary.
Donee Beneficiary
A third party who stands to benefit from a contract, especially when the contract is intended as a gift to that third party.
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