Party definition: Copy, customize, and use instantly
Introduction
The term "Party" refers to an individual, company, or organization involved in the contract or agreement. It is essential for identifying the entities responsible for fulfilling obligations and rights within the contract.
Below are various examples of how "Party" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Party" as a contracting party
This definition ties "Party" to a party involved in the contract.
"Party" means any individual, company, or organization that is a signatory to and bound by the terms and conditions of this Agreement.
Definition of "Party" as a party to the agreement
This definition connects "Party" to the agreement context.
"Party" refers to any entity or individual that is a signatory to this Agreement, including both the [insert party name] and [insert party name], collectively referred to as the "Parties."
Definition of "Party" as a legal entity
This definition links "Party" to a legal entity involved in the contract.
"Party" refers to a legal entity, including corporations, limited liability companies (LLCs), or other types of legal persons, that are bound by the terms of this Agreement.
Definition of "Party" as the designated counterpart
This definition links "Party" to a specific counterpart in the agreement.
"Party" means a designated counterpart in this Agreement, specifically referring to either the Buyer or the Seller, depending on the context within this Agreement.
Definition of "Party" as the obligor
This definition connects "Party" to a specific role as an obligor.
"Party" refers to an entity or individual that is obligated to perform a particular duty or obligation under the terms of this Agreement.
Definition of "Party" as a participant in the transaction
This definition ties "Party" to the role of a participant.
"Party" means any participant in the transaction under this Agreement, including any individual, business, or other organization entering into an agreement or making an offer.
Definition of "Party" as the first party
This definition refers to the first party in a contract.
"Party" refers to the first entity named in this Agreement, which is typically the Seller or the Purchaser, as designated in the contract preamble.
Definition of "Party" as the second party
This definition refers to the second party in the contract.
"Party" refers to the second entity named in this Agreement, typically the Purchaser or the Supplier, depending on the nature of the transaction.
Definition of "Party" as the counterparty
This definition connects "Party" to the counterparty in an agreement.
"Party" refers to the counterparty in this Agreement, which may either be the Buyer or the Seller depending on the context of the contract.
Definition of "Party" as any individual or organization involved
This definition connects "Party" to anyone involved in the contract.
"Party" means any individual, business, or organization that is a signatory or participant to this Agreement, whether acting as a seller, buyer, agent, or otherwise.
Definition of "Party" as a party to the dispute
This definition ties "Party" to the context of a dispute.
"Party" refers to an entity or individual involved in a dispute under the terms of this Agreement, including both the claimant and the respondent.
Definition of "Party" as an affiliate party
This definition links "Party" to an affiliate.
"Party" refers to a direct or indirect affiliate of the entity involved in this Agreement, including any parent, subsidiary, or related company.
Definition of "Party" as a third party
This definition ties "Party" to third-party involvement.
"Party" means any third party not directly involved in the Agreement but who may be affected by its terms, such as subcontractors, agents, or beneficiaries.
Definition of "Party" as an authorized representative
This definition connects "Party" to an authorized representative.
"Party" means an authorized representative or agent of an entity who has the legal authority to bind the entity to the terms of this Agreement.
Definition of "Party" as a successor party
This definition refers to successor entities.
"Party" means any successor, assignee, or transferee of the original signatories to this Agreement who inherit obligations or rights under the contract.
Definition of "Party" as a primary party
This definition ties "Party" to the primary entity involved.
"Party" refers to the primary entity engaged in this Agreement, usually the one that initiates or takes responsibility for a specific obligation or role.
Definition of "Party" as a co-party
This definition connects "Party" to a co-party in a joint agreement.
"Party" refers to any co-party to this Agreement, collaborating with another party to fulfill mutual obligations under the contract.
Definition of "Party" as a lead party
This definition links "Party" to the lead party in the agreement.
"Party" means the lead entity responsible for managing and overseeing the performance of this Agreement, including coordinating with other parties involved.
Definition of "Party" as a contracting entity
This definition ties "Party" to the contracting entity.
"Party" refers to the legal entity or individual entering into a contract and agreeing to the terms specified in this Agreement.
Definition of "Party" as a designated party to the transaction
This definition applies "Party" to the designated role in the transaction.
"Party" refers to any designated entity involved in the transaction under this Agreement, such as a buyer, seller, or service provider.
Definition of "Party" as a party with specific rights
This definition connects "Party" to one with specific rights under the contract.
"Party" means an entity that holds specific rights or privileges granted under the terms of this Agreement, such as intellectual property rights or rights to payment.
Definition of "Party" as a principal party
This definition ties "Party" to the principal party.
"Party" refers to the principal entity engaged in the execution of this Agreement, typically the entity that has the primary responsibility to perform the obligations outlined in the contract.
Definition of "Party" as a party with indemnification obligations
This definition connects "Party" to indemnification responsibilities.
"Party" means an entity that is responsible for indemnifying another party under the terms of this Agreement, providing protection against specific losses or claims.
Definition of "Party" as an exempt party
This definition refers to a party that is exempt from certain obligations.
"Party" refers to an entity that is exempt from specific terms or provisions of this Agreement, such as performance requirements or penalties.
Definition of "Party" as a party that is jointly liable
This definition ties "Party" to joint liability.
"Party" refers to any entity that shares joint liability with one or more other parties under the terms of this Agreement, equally responsible for fulfilling contractual obligations.
Definition of "Party" as a third-party beneficiary
This definition links "Party" to a third-party beneficiary.
"Party" means any individual or entity that is not a direct signatory to this Agreement but stands to benefit from its provisions, typically a third-party beneficiary.
Definition of "Party" as a contributor
This definition connects "Party" to a contributor to the contract.
"Party" refers to an entity that contributes resources, goods, services, or obligations to the execution of this Agreement, such as a supplier or co-investor.
Definition of "Party" as an intervening party
This definition ties "Party" to an intervening role in the contract.
"Party" refers to an entity that steps in or becomes involved in the Agreement due to a specific condition or event, acting as an intervening party to resolve a dispute or perform an action.
Definition of "Party" as a contracting authority
This definition connects "Party" to the contracting authority.
"Party" refers to the contracting authority, typically the entity with the legal right to enforce, amend, or terminate the Agreement.
Definition of "Party" as a party with exclusivity
This definition ties "Party" to an exclusive role.
"Party" refers to an entity granted exclusive rights or privileges within the terms of this Agreement, meaning no other parties can perform similar functions or compete in certain areas during the term of the contract.
Definition of "Party" as an affiliate party
This definition connects "Party" to an affiliated entity.
"Party" refers to any entity affiliated with another party to this Agreement, such as a parent company, subsidiary, or affiliate, that may have obligations or rights under the contract.
Definition of "Party" as a party to an ancillary agreement
This definition links "Party" to an ancillary agreement.
"Party" refers to any entity that is a signatory or participant in an ancillary agreement that supports the execution or performance of the primary contract.
Definition of "Party" as an obligated party
This definition ties "Party" to an obligated role.
"Party" refers to an entity that has certain obligations or responsibilities under the terms of this Agreement and is required to act in accordance with the specified terms and conditions.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.