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LSDefine

Simple English definitions for legal terms

creditor beneficiary

Read a random definition: in petitorio

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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texaslawhopefully
16:26
I’m sure you’ll get good merit aid though. Look at Michigan’s 509 report. They’re very generous.
16:34
i am going to wait patiently into january to get into a law school
16:34
then i will start tweaking
texaslawhopefully
16:42
January could not come any sooner
16:54
i hope you guys all have a very lovely holiday season
17:02
has everyone finished procuring their presents?
17:02
I got my sis a vintage leather jacket off ebay she’s gonna freak she only has fake stuff
hi all
CynicalOops
17:14
Ive been slacking so hard on tickets fawk
CynicalOops
17:14
Wait
CynicalOops
17:14
Presents
CynicalOops
17:14
Im just gonna get everyone tickets so thats why i said that
jackfrost11770
17:14
people are so stupid on the internet its crazy
CynicalOops
17:15
T5 soft
windyMagician
17:18
that and the post asking for low gpa success stories along with every other identifying detail
i should be a vtuber so i can finally realize my dream of becoming an anime girl
17:23
@CynicalOops: tickets to what?
CynicalOops
17:26
I got my brother tickets to a golf tournament and im going to get my mom ski lift tickets because she just moved near a ski resort
Dkk
18:08
Nice, I am on bad terms with my siblings so i am getting them nothing and they should get me nothing too and I am getting my mom a gift.
18:16
I just noticed that UMich has the majority of their acceptances really early on. Does anyone know what happens to mid-November applicants? Are we just cooked?
TGM
18:23
How long can I delay sending my fall grades if they hurt my GPA? I’m still waiting on decisions and ideally I’m hoping they decide BEFORE seeing my new grades
TGM
18:27
dropped my GPA below median for a couple of schools I’m applying to, when I was above median before
Dkk
18:32
@TGM: Not long enough to get another transcript to recover.
Dkk
18:33
Honestly you could just wait until someone actually asks for your fall grades. Who knows.
Dkk
18:34
@wigwav: It looks like if below medians it will not help but If applying in November it seems you are still middle of the cycle.
18:34
@wigwav: nah
TGM
18:34
like am I expected to send it unprompted or can I wait until a school requested it
Dkk
18:35
@TGM: Expected to send it unprompted but you can wait and see.
18:36
Is your LSAT also below median?
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