What does third party mean law?

A person who is not a principal party. Often refers to someone who is not party to a dispute or agreement. courts.

What is an example of a third party law?

An example of a third party would be the escrow company in a real estate transaction; the escrow party acts as a neutral agent by collecting the documents and money that the buyer and seller exchange when completing the transaction.

What does third party mean example?

The definition of a third party is the other major, competitive party in a largely two-party system in politics, or a person who is not a primary person in a situation. An example of a third party is the Green Party, running alongside the Republicans and Democrats.

What is another word for third party?

synonyms for third party

  • mediator.
  • arbiter.
  • arbitrator.
  • minor party.
  • third force.
  • unbiased observer.

Who is considered third party?

n. a person who is not a party to a contract or a transaction, but has an involvement (such as a buyer from one of the parties, was present when the agreement was signed, or made an offer that was rejected).

What is a third party legal charge?

A standard form third party legal mortgage over a property (often referred to as a legal charge) granted by a company incorporated in England and Wales in favour of a single corporate lender securing specific monies owed by another party to the lender.

Why do we say third party?

In commerce, a “third-party source” means a supplier (or service provider) who is not directly controlled by either the seller (first party) nor the customer/buyer (second party) in a business transaction.

What is third party in contract law?

A third-party beneficiary, in the law of contracts, is a person who has the right to sue on a contract, despite not having originally been a party to the contract and/or a signer of the contract. There are two kinds of third-party beneficiaries: an “intentional or intended” beneficiary and an “incidental” beneficiary.

What is a third party in government?

Third party is a term used in the United States for American political parties other than the two dominant parties, currently the Republican and Democratic Parties. Sometimes the phrase “minor party” is used instead of third party. Third parties are most often encountered when they nominate presidential candidates.