Louisiana Civil Code 1981 – Rights of beneficiary and stipulator
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Terms Used In Louisiana Civil Code 1981
- 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
The stipulation gives the third party beneficiary the right to demand performance from the promisor.
Also the stipulator, for the benefit of the third party, may demand performance from the promisor.
Acts 1984, No. 331, §1, eff. Jan. 1, 1985.