Editing Contracts/Third-party beneficiary
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* '''Creditor beneficiary''' – e.g., when Andrew owes some [[debt]] to Charlie, and Andrew agrees to provide some consideration to Bethany in exchange for her promise to pay Charlie some of the debt | * '''Creditor beneficiary''' – e.g., when Andrew owes some [[debt]] to Charlie, and Andrew agrees to provide some consideration to Bethany in exchange for her promise to pay Charlie some of the debt | ||
* '''Donee beneficiary '''– e.g., when Andrew wishes to make a [[gift]] to Charlie and Andrew agrees to provide some consideration to Bethany in exchange for her promise to pay Charlie the amount of the gift. Under old [[common law]] principles, the donee beneficiary actually had a greater claim to the benefits this created, but such distinctions have been abolished. | * '''Donee beneficiary '''– e.g., when Andrew wishes to make a [[gift]] to Charlie and Andrew agrees to provide some consideration to Bethany in exchange for her promise to pay Charlie the amount of the gift. Under old [[common law]] principles, the donee beneficiary actually had a greater claim to the benefits this created, but such distinctions have been abolished. | ||