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[su_posts posts_per_page=”1″ tax_term=”2703″ order=”desc” orderby=”rand”] Similarly one may ask, who is considered a third party?
Third Party. A generic legal term for any individual who does not have a direct connection with a legal transaction but who might be affected by it. A third–party beneficiary is an individual for whose benefit a contract is created even though that person is a stranger to both the agreement and the consideration.
Beside above, what is 3rd party business? A third–party transaction is a business deal that involves a person or entity other than the main participants. Typically, it would involve a buyer, a seller and another party, the third party.
Keeping this in view, what is an example of a third party?
Third party candidates sometimes win elections. For example, such a candidate has won a U.S. Senate election twice (0.6%) since 1990. Also, a third party may be used by the voter to cast a protest vote as a form of referendum on an important issue.
Why is it called a third party?
It’s a term that’s often used in Windows-centric development: the first and second parties are me (or you), and Microsoft; and the third party is anyone else: Sometimes it means the customer or end user (e.g. “if we get a ‘redistributable’ from Microsoft, that means that we can redistribute it to ‘third parties‘”)