News & Analysis as of

Breach of Contract › Beneficiaries

Freiberger Haber LLP

Intent is Important in Determining Third-Party Beneficiary Status

Freiberger Haber LLP on

“A third-party beneficiary … is a person or entity that receives benefits from a contract between two other parties, even though they are not a party to the contract.” The concept of a third-party beneficiary stems from the...more

Carlton Fields

Ringmaster’s Review: Fall 2023 Litigation on Parade

Carlton Fields on

In Ross v. Venerable Insurance & Annuity Co., a Missouri appellate court reversed judgment in favor of the named beneficiary of a flexible premium deferred annuity contract. Following the annuitant’s death, the beneficiary...more

McGlinchey Stafford

Do I have standing to bring a declaratory judgment action? - McGlinchey’s Commercial Law Bulletin - September 7 2022

McGlinchey Stafford on

Unambiguous Contract Language- Lake Breeze Condo. Homeowner’s Ass’n v. Eastlake Ohio Developers, LLC, 11th Dist. Lake No. 2022-Ohio-3002. In this case the Eleventh Appellate District affirmed in part and reversed in...more

Rumberger | Kirk

McHugh, Thomas, and the Long-Term Risk of California Insurance Code Sections 10113.71 and 10113.72

Rumberger | Kirk on

In 2012, the California Legisla­ture enacted changes to the California Insurance Code that provide protections intended to shield consumers from los­ing life insurance coverage due to late or missed insurance premium...more

Cozen O'Connor

If Your Condo or Coop Utilizes CSC ServiceWorks, Inc., Act Now for Class Action Benefits

Cozen O'Connor on

If your condo or coop utilizes CSC ServiceWorks, Inc. (CSC) for laundry services, your condo or coop may be able to benefit from a class action settlement if you act now. A class action suit against laundry machine services...more

Vedder Price

Comerica Leasing Corporation v Bombardier Inc.

Vedder Price on

History of Residual Value Guarantees - In the late 1990s and early 2000s, manufacturers like Bombardier and Embraer increasingly began offering residual value guarantees (RVGs) to airlines and investors, typically...more

Farrell Fritz, P.C.

Beneficiary To A Trust Lacks Standing To Collect Unpaid Debt

Farrell Fritz, P.C. on

The poet, Robert W. Service once wrote that “a promise made is a debt unpaid.” The question that remains is: Who gets to collect on that unpaid debt?...more

Dickinson Wright

Sixth Circuit Allows Both Punitive Damages and Bad Faith Damages Against Insurance Company on Bad Faith Refusal to Pay

Dickinson Wright on

Recently, the United States Court of Appeals for the Sixth Circuit, in Lindenberg v. Jackson Nat’l Life Ins. Co., 912 F.3d 348 (6th Cir. 2018), ruled that a plaintiff may recover both bad faith damages and punitive damages...more

Carlton Fields

Real Property & Title Insurance Update: Week Ending February 1, 2019

Carlton Fields on

Real Property Update - Foreclosure / Surplus Funds: sections 45.032 and 45.033, Florida Statutes, create a rebuttable presumption that the owner of record of real property on the date of the filing of a lis pendens is...more

Bass, Berry & Sims PLC

Chris Lazarini Discusses Financial Institution’s Fiduciary Duty to Beneficiary

Bass, Berry & Sims PLC on

Bass, Berry & Sims attorney Chris Lazarini discussed a case centered around three IRA accounts and the duty that UBS had to the beneficiary following the death of the client/IRA account holder. Prior to the client’s death,...more

Allen Matkins

Material Breach Releases Obligation To Third Party Beneficiaries

Allen Matkins on

On April 12, 2018, the Nevada Supreme Court held that one party's material breach of a contract releases the non-breaching party's contractual obligation to a third-party beneficiary. Cain v. Price, 134 Nev. Adv. Op. 26...more

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