In his Contract Drafting column, Lawrence Hsieh, a corporate attorney and an editor at the Practical Law Company, discusses some of the common scenarios that require moderations to a provision that prevents non-parties from benefitting from or directly enforcing the contract: when the right of an indemnified non-party to enforce indemnification obligations must be included, the need to permit a target of a stock purchase agreement to enforce that agreement on behalf of its shareholders, and when a target company's employees must be excluded from third-party beneficiary status.
Drafting 'No Third-Party Beneficiaries' Provisions
New York Law Journal
June 14, 2012
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