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AIC 301 - GLOSSARY TERMS Exam Questions and answers Graded A+

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AIC 301 - GLOSSARY TERMS Exam Questions and answers Graded A+ Contract -A legally enforceable agreement between two or more parties. Promisor -The party to a contract making a promise. Promisee -The party to a contract to whom a promise is made. Privity of contract -The relationship that exists between the parties to a contract. Third-party beneficiary -A person who is not a party to a contract but who benefits from it and has a legal right to enforce the contract if it is breached by either of the contracting parties. Breach of contract -The failure, without legal excuse, to fulf

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