Editing Contracts/Third-party beneficiary
From wikilawschool.net. Wiki Law School does not provide legal advice. For educational purposes only.
The edit can be undone. Please check the comparison below to verify that this is what you want to do, and then publish the changes below to finish undoing the edit.
Latest revision | Your text | ||
Line 6: | Line 6: | ||
==''Ius quaesitum tertio''== | ==''Ius quaesitum tertio''== | ||
While the law on this subject varies, there is nonetheless a commonly accepted construction of third-party rights in the laws of most countries. A right of action arises only when it appears the object of the contract was to benefit the third party's interests and the third-party beneficiary has either relied on or accepted the benefit. A promisee nominates a third party usually for one of two reasons—either the promisee owes something to the third party and the performance of this new obligation will discharge it, or the promisee will somehow get a material benefit by giving something to the third party. | While the law on this subject varies, there is nonetheless a commonly accepted construction of third-party rights in the laws of most countries. A right of action arises only when it appears the object of the contract was to benefit the third party's interests and the third-party beneficiary has either relied on or accepted the benefit. A promisee nominates a third party usually for one of two reasons—either the promisee owes something to the third party and the performance of this new obligation will discharge it, or the promisee will somehow get a material benefit by giving something to the third party.A says to B offer to sell my car for Rs.50000/- B repalis ."I will purchases it for 45000/- | ||
There are also two possible ways to explain the functioning of the contractual relationship: either, | There are also two possible ways to explain the functioning of the contractual relationship: either, |