Utah Third-party beneficiary is a legal term used to describe a person who benefits from a contract or agreement between two other parties, even though they are not parties to the contract. This can be a person or an organization that is designated by either party to the contract as eligible to receive the benefit of the contract. Under Utah law, a third-party beneficiary may be either an intended beneficiary or an incidental beneficiary. An intended beneficiary is one whose benefit was expressly stated in the contract, while an incidental beneficiary is one that was not specifically stated in the contract but is nonetheless entitled to the benefit. Examples of intended third-party beneficiaries would be a person named in a will or an insurance beneficiary, while an incidental beneficiary would be someone such as a creditor of one of the parties to the contract. Under Utah law, a third-party beneficiary is entitled to enforce the terms of the contract as if they were a party to it and may sue the other parties for breach of the contract. They may also be entitled to damages, specific performance, and other legal remedies for any breach of the contract.
Utah Third-party beneficiary
Description
How to fill out Utah Third-party Beneficiary?
US Legal Forms is the most straightforward and profitable way to find suitable formal templates. It’s the most extensive web-based library of business and individual legal documentation drafted and checked by attorneys. Here, you can find printable and fillable templates that comply with national and local regulations - just like your Utah Third-party beneficiary.
Getting your template takes only a few simple steps. Users that already have an account with a valid subscription only need to log in to the web service and download the document on their device. Later, they can find it in their profile in the My Forms tab.
And here’s how you can obtain a professionally drafted Utah Third-party beneficiary if you are using US Legal Forms for the first time:
- Look at the form description or preview the document to make sure you’ve found the one corresponding to your demands, or find another one utilizing the search tab above.
- Click Buy now when you’re sure of its compatibility with all the requirements, and judge the subscription plan you like most.
- Create an account with our service, log in, and pay for your subscription using PayPal or you credit card.
- Decide on the preferred file format for your Utah Third-party beneficiary and save it on your device with the appropriate button.
Once you save a template, you can reaccess it at any time - simply find it in your profile, re-download it for printing and manual fill-out or import it to an online editor to fill it out and sign more efficiently.
Benefit from US Legal Forms, your trustworthy assistant in obtaining the corresponding formal documentation. Try it out!
Form popularity
FAQ
Third Party Beneficiary-The Requirements: A third-party beneficiary, in the law of contracts, is a person who has the right to sue on a contract, despite not having originally been a party to the contract and/or a signer of the contract.
The parties hereby agree that subject to the Company Third Party Beneficiary Rights, their respective representations, warranties and covenants set forth herein are solely for the benefit of the other party hereto in ance with and subject to the terms of this letter agreement, and this letter agreement is not
party beneficiary (TPB) is a person or entity who, though not a party to the contract, stands to benefit from the contract's performance. Typically, the TPB needs to be expressly named in the contract from which it stands to benefit.
The clearest example of a third-party beneficiary is found in life insurance contracts. An individual enters into a contract with an insurance company that requires the payment of death benefits to a third party.
party beneficiary, in the law of contracts, is a person who may have the right to sue on a contract, despite not having originally been an active party to the contract.
A third party beneficiary clause determines if a non-contractual party has any rights to enforce the contract's terms. Sometimes, beneficiaries are named, and other times, they receive rewards by chance.
party beneficiary is a person who is not a contracting party of a contract but can still receive the benefits from the performance of the contract. The privity of the contract is between the contracting parties the promisor and promisee.
There are two kinds of third-party beneficiaries: an intentional beneficiary and an incidental beneficiary. When a non-party to a contract receives benefit from the agreement directly, this is known as an intentional beneficiary.