Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Which of the following statements accurately states the difference between creditor and donee beneficiaries? Multiple Choice A creditor beneficiary can enforce rights against the promisor
Which of the following statements accurately states the difference between creditor and donee beneficiaries? Multiple Choice A creditor beneficiary can enforce rights against the promisor or the promisee, whereas a donee beneficiary can enforce rights only against the promisor. A donee beneficiary is created when the contract is intended to release a party from an obligation to a third party, whereas a creditor beneficiary is created if the contract intends to grant a gift. A creditor beneficiary who wins a judgment against one party to a contract may not seek judgment against the other party, whereas a donee beneficiary can seek judgment against both the parties. A creditor beneficiary has limited ability to enforce a contract when compared to a donee beneficiary's ability to enforce rights to a contract
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started