1. Explain the two types of third-party beneficiaries.

2.Helen obtained an insurance policy insuring her life and naming her niece Julie as beneficiary. Helen died, and about a year later the policy was found in her house. When Julie claimed the insurance money, the insurer refused to pay on the ground that the policy required that notice of death be given to it promptly following the death. Julie claimed that she was not bound by the time limitation because she had never agreed to it, as she was not a party to the insurance contract.

Is Julie entitled to recover?

3.List the three types of conditions that affect a party's duty to perform their contractual obligations (aka fulfill their promise).

4.What effect does the death or disability of one of the contracting parties have on the contract?