The condition that exists when a contract is made with the purpose of benefiting the third party?
A third-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. This right, known as a "ius quaesitum tertio", arises when the third party ("tertius" or "alteri") is the intended beneficiary of the contract, as opposed to a mere incidental beneficiary ("penitus extraneus"). It vests when the third party relies on or assents to the relationship, and gives the third party the right to sue either the promisor ("promittens", or performing party) or the promisee ("stipulans", or anchor party) of the contract, depending on the circumstances under which the relationship was created.
The right that arises when a contract is made with the purpose of benefiting the third party?
ius quaesitum tertio right to sue
Third-party beneficiary
A third-party beneficiary only acquires a right of action to enforce his benefit once he has accepted the benefit provided for in the contract. Under the South African interpretation, however, prior to formal acceptance of the benefit, the third-party beneficiary only has a "spes", or expectation; in other words, he does not have the right to accept, but rather a mere competency. Acceptance may also be a suspensive condition in certain contracts. Under Scots law, acceptance is not necessary to be vested in a right of action, but is necessary to be liable. Before acceptance, however, the "ius quaesitum tertio" is tenuous so that acceptance of a benefit does not create a right, but rather entrenches that right. In either case, the contracting parties may vary or rescind the contract until acceptance or reliance.
The condition that exists when a contract is made with the purpose of benefiting the third party and third party accept the benefit?
acceptance
Third-party beneficiary
Third-party beneficiary
https://en.wikipedia.org/wiki/Third-party%20beneficiary
Contracts (Rights of Third Parties) Act 1999
https://en.wikipedia.org/wiki/Contracts%20%28Rights%20of%20Third%20Parties%29%20Act%201999
If a contract is made with the purpose of benefiting a third party, then the third party may have the right to sue despite not being an active party to the contract. However, before acceptance, the right to sue is tenuous so that acceptance of a benefit does not create a right, but rather entrenches that right. In either case, the contracting parties may vary or rescind the contract until acceptance or reliance.