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LSDefine

Simple English definitions for legal terms

creditor beneficiary

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A quick definition of creditor beneficiary:

A creditor beneficiary is someone who is owed money by one party, but that debt is to be paid by another party as part of a contract. For example, if John owes money to Jane, but Bob agrees to pay off John's debt to Jane as part of a contract, then Jane is a creditor beneficiary.

A more thorough explanation:

A creditor beneficiary is a type of third-party beneficiary in a contract who is owed a debt that is to be paid by another party's performance under the contract. In simpler terms, it means that someone who is owed money can benefit from a contract between two other parties.

Let's say that John owes Jane $1,000, but he doesn't have the money to pay her back. However, John has a contract with Bob to paint his house for $1,000. In this case, Jane is a creditor beneficiary because she can benefit from the contract between John and Bob. When Bob completes the painting job, Jane can receive the $1,000 that John owes her.

This example illustrates how a creditor beneficiary can benefit from a contract between two other parties. It shows that a third party can have a legal right to receive payment from a contract even though they are not a party to the contract.

credit mobilier | creditor dominii

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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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