When an objective standard is used, the courts ask whether a reasonable person would be satisfied with the performance. Sometimes the contract is conditioned on the satisfaction of a third party.

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16-12-2022
Law

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When an objective standard is used, the courts ask whether a reasonable person would be satisfied with the performance. Sometimes the contract is conditioned on the satisfaction of a third party.

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rafikiedu08 rafikiedu08 · Answer 1 · 2022-12-20T02:29:08-05:00

The agreement may occasionally be subject to the approval of a third party. A contract that commits two or more parties to carrying out or refraining from performing an action now or in the future.

A third party is not considered a party to the agreement just because they have the legal ability to enforce it. The third party merely has the same legal rights to sue regarding the contract as if they were a party to it, including the right to seek damages or an injunction.

This illustrative clause completely precludes the application of the Contracts (Third Party Rights) Act. It takes an artistic skill to construct provisions like this that offer rights to third parties rather than exclude them. It depends on the rights that are to be awarded, who is to receive them, and the restrictions placed on those rights.

The risk that the parties to a contract take on increases when third parties are given rights under the agreement.

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