Loading...
Third Parties as Beneficiaries of Contractors' Surety Bonds
Corbin, Arthur
Corbin, Arthur
Abstract
The American Law Institute has tentatively adopted the two following general rules: "A gift promise in a contract creates a duty of the promisor to the donee beneficiary to perform the promise. This duty can be enforced by the donee beneficiary for his own benefit." "A promise to discharge the promisee's duty [to another person] creates a duty of the promisor to the creditor beneficiary to perform the promise."