Publication
Title
Third party beneficiary in commercial law
Author
Abstract
Many contracts confer in one or another way a benefit on persons who are not parties to the contract. Often those third parties will (try to) argue that they are entitled to claim that benefit. In most legal systems, the relationship between a contract and third parties is governed by the rule of privity of contract, which restricts the (binding) effects of contracts to the contracting parties. Exceptions to the rule that a contract cannot impose liabilities on a third party are very rare. It seems almost self-evident that a third party cannot be bound by a contract without his consent. However, the conferral of contractual benefits on a third party, without his consent, is more likely allowed, at least from the perspective of the third party. Probably the most important active exception to the privity rule is a stipulation in favour of a third party. It is a general and wide-ranging (and in many cases the only possible) exception to the privity rule which allows contracting parties to confer rights on a third party on the sole basis of their contract.3 Its relevance in practice is significant.
Language
English
Source (journal)
European journal of commercial contract law
Publication
2012
ISSN
1877-1467
1877-1475
Volume/pages
2-3(2012), p. 21-42
UAntwerpen
Faculty/Department
Research group
Publication type
Subject
Law 
Affiliation
Publications with a UAntwerp address
External links
VABB-SHW
Record
Identification
Creation 10.01.2013
Last edited 21.10.2014
To cite this reference