A third party beneficiary is a person benefiting from a contract made between two parties, where the two contracting parties intended to benefit the third party beneficiary. The third party beneficiary is not a party to the contract but has rights...
contract law
(Wex page)
Definition
A unilateral contract is a contract created by an offer than can only be accepted by performance.
OverviewIn a unilateral contract, there is an express offer that payment is made only by a party's performance. Another example of...
(Wex page)
Overview
Unjust enrichment occurs when Party A confers a benefit upon Party B without Party A receiving the proper restitution required by law. This typically occurs in a contractual agreement when Party A fulfills his/her part of the agreement and...
(Wex page)
Under section 2 of the Uniform Commercial Code, usage of trade is often used to aid in interpreting contracts and to give terms particular meanings. A usage of trade is a practice or method of dealing having such regularity of observance in a place,...
(Wex page)
Valuable consideration broadly refers to a sufficient price paid by a party in exchange for something in a contract or sale. The “valuable” description of consideration also may mean that the consideration is monetary in contrast to other...
(Wex page)
A buyer, especially of real property.
See, e.g. Warner v. Kaplan, 892 N.Y.S.2d 311 (N.Y. App. Div. 2009).
See also
Vendor (contrast)
Contract
(Wex page)
A seller, especially of real property. Also called venditor.
See, e.g. American Needle, Inc. v. National Football League, 130 S.Ct. 2201 (2010).
See also
Vendee (contrast)
Contract
(Wex page)
Overview
Workers' compensation laws protect people who become injured or disabled while working at their jobs. The laws provide the injured workers with fixed monetary awards, in an attempt to eliminate the need for litigation. These laws also...