Answered

Dive into the world of knowledge and get your queries resolved at IDNLearn.com. Get comprehensive and trustworthy answers to all your questions from our knowledgeable community members.

Randy and Donald were property developers, and they decided to construct a condominium in a certain neighborhood. Jim, who owned a chain of restaurants, heard of this agreement and opened a new restaurant in the same neighborhood even before the condominium construction began. However, the plan for the condominium was not approved by the state authorities, and the project was cancelled. Jim suffered losses as a result, but he had no rights in the contract because he was a(n):

Sagot :

Answer: incidental beneficiary

Explanation:

An incidental beneficiary refers to an individual who isn't a party to a contract but later becomes a third party beneficiary who is unintended to the contract.

It should be noted that the incidental beneficiary has no rights that are enforceable under the contract. With regards to the question, Jim suffered losses as a result, but he had no rights in the contract because he was an incidental beneficiary.

We value your participation in this forum. Keep exploring, asking questions, and sharing your insights with the community. Together, we can find the best solutions. IDNLearn.com is committed to providing the best answers. Thank you for visiting, and see you next time for more solutions.