Asked by
Jamie Olson
on Nov 21, 2024Verified
A third party who benefits from a contract in which the promisor agrees to pay the promisee's debt is a[n] ________ beneficiary.
A) Creditor
B) Donee
C) Incidental
D) Promised
E) Avowed
Creditor Beneficiary
A third party who benefits from a contract made between two other parties because one of the primary parties owes a debt to the beneficiary.
Contract
A legally enforceable agreement between two or more parties that creates mutual obligations.
Promisor
The person or party who makes a promise or agrees to perform an action or fulfill an obligation under a contract.
- Learn about the legal distinctions that separate donee beneficiaries, creditor beneficiaries, and incidental beneficiaries.
Verified Answer
VM
Learning Objectives
- Learn about the legal distinctions that separate donee beneficiaries, creditor beneficiaries, and incidental beneficiaries.