third party


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third party

a person who is involved by chance or only incidentally in a legal proceeding, agreement, or other transaction, esp one against whom a defendant claims indemnity

Third Party

 

in civil law, a participant in a proceeding who has a legal interest in the outcome of the dispute between the plaintiff and defendant. Soviet law distinguishes two categories of third parties.

The first type of third party makes an independent claim to the subject matter of the dispute. Such a third party may intervene in a case to protect his rights or lawful interest by filing a suit against one or both of the parties, on the same ground of action as the original suit. For example, in a dispute concerning the division of an inheritance among heirs by operation of law, an heir under the will may intervene, filing a suit to have himself recognized as having rights to all or part of the property to be inherited. Such a third party possesses all the rights and duties of the plaintiff and defendant.

The second type of third party does not make an independent claim to the subject matter of the dispute. Such a third party in tervenes in the case on the side of the defendant or plaintiff. The third party may be joined in the case on his own initiative, or he may be brought in on the initiative of the court or by the petition of the plaintiff, defendant, or procurator. For example, in a suit brought by a citizen against a motor vehicle transport organization to receive compensation for damage caused by a motor vehicle, the driver of the vehicle may participate in the case in the capacity of a third party on the side of the defendant. If the claim of the victim against the organization is satisfied, the organization may file an indemnity action against the driver. A third party of this type has most of the rights and duties of a plaintiff or defendant.

third party

A separate individual or organization other than the two principals involved. A third party is typically a company that provides an auxiliary product not supplied by the primary manufacturer to the end user (the two principals). Countless third-party add-on and plug-in products keep the computer industry advancing at a rapid pace. The third-party vendor is often the most innovative.
References in periodicals archive ?
Credit Risk: Broadly, the FDIC is concerned that the interests of third parties may not be aligned with financial institutions when determining whether a borrower should be approved for credit because of fee based transactional models that incentivize originators to emphasize volume over credit quality or the funding of transactions where the third party is providing a related product, such as during a retail sale.
If the property was not sold to a third party within a year, title would pass to the RSC.
Obviously, a contract should include a clause prohibiting the third party from making improper payments to officials.
In other words, if the third-party provider is connected to or involved in the provision (or processing) of the services offered by the practitioner, there is no requirement to disclose to the client the fact that information is shared with that third party.
2) Nonaffiliated third party includes any company that is an affiliate solely by virtue of your or your affiliate's direct or indirect ownership or control of the company in conducting merchant banking or investment banking activities of the type described in section 4(k)(4)(H) or insurance company investment activities of the type described in section 4(k)(4)(I) of the Bank Holding Company Act of 1956 (12 U.
Sheffi, Third Party Logistics: Present and Future Prospects," Journal of Business Logistics, Vol.
Decisions in other jurisdictions, however, have held that this provision (or like language)prevents an owner from maintaining a breach of contract action against a subcontractor on a third party beneficiary theory, or prevents a subcontractor from maintaining a breach of contract action against an owner on such a theory.
An Independent Test of Windows Defender Against Third Party Vendors Demonstrates Why Best of Breed Products Are Still Vital
Whether the trust will be deemed a resource for SSI and Medicaid purposes will depend on whether it is created by a third party from the third-party's assets (a third-party trust) or from the disabled individual's assets (a self-created/self-settled trust).
This third party wins few elections, but its economic views influence the Republican Party.
When a client obtains an opinion from a third party and asks a member to evaluate it, he or she should consider whether the opinion indicates the third party followed the five steps outlined above.
Third-party verification means that an objective third party examines a business' privacy policy to make sure that its privacy claims are true.