§ 755 ILCS 30/0.01 Short title
§ 755 ILCS 30/1 The designation in accordance with the terms of any insurance, …
§ 755 ILCS 30/2 This act shall apply to such designations made before or after the …

Terms Used In Illinois Compiled Statutes > 755 ILCS 30 - Third Party Beneficiary Contract Act

  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.