In what kind of transaction is a contract provided by an entity that is not otherwise involved in the agreement?
A. Request for proposal
B. Terminal contract
C. Third-party contract
D. Bought contract
Answer: C – In a third-party contract, the contract is provided by an entity that is not otherwise involved in the agreement.
Explanation: Remember that “third-party” always refers to a situation in which someone is involved in a business transaction, deal, or mediation and they are not otherwise directly involved with the situation.