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third party creditor beneficiary


  as an issue of Relationship (read more...)

third party creditor beneficiary, defined:

a party receiving the benefit of a contractual agreement for the purpose of discharging an obligation owed the beneficiary.

third party creditor beneficiary, as it might be used:

The judge ruled that the defendant could not be designated as a third party creditor beneficiary unless the plaintiff's performance of the contract extinguished the debt owed.
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