An adstipulator is a person who is involved in a promise made by another party, known as the principal. This individual has received the same promise, either fully or partially, and has the right to demand its fulfillment. Importantly, the adstipulator retains this right even after the principal has passed away.
The term "adstipulator" is primarily used in contract law. It is relevant in situations where multiple parties are involved in a contractual agreement. Adstipulators can be found in various legal contexts, including civil law and estate planning. Users may encounter this term when dealing with contracts, especially those involving promises that benefit multiple parties.
For individuals looking to manage contracts or agreements, legal templates available through US Legal Forms can provide valuable resources.
Here are a couple of examples of abatement:
Example 1: A person promises to pay a sum of money to a friend (the principal) and also agrees to pay a portion to a third party (the adstipulator). If the principal dies, the adstipulator can still demand payment.
Example 2: A company enters into a contract with a supplier, promising to deliver goods to both the supplier and a third party who is an adstipulator. If the company fails to deliver, both the supplier and the adstipulator can seek fulfillment of the contract. (hypothetical example)
| Term | Definition | Key Differences |
|---|---|---|
| Principal | The primary party who makes a promise. | The principal is the originator of the promise, while the adstipulator is a secondary party who benefits from it. |
| Beneficiary | A person who receives benefits from a contract or promise. | While a beneficiary may receive benefits, an adstipulator has the right to enforce the promise. |
If you find yourself in a situation involving an adstipulator, consider the following steps:
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| Attribute | Details |
|---|---|
| Legal Area | Contract Law |
| Rights | Can enforce a promise |
| Duration of Rights | Rights persist after the principal's death |
An adstipulator has the right to demand fulfillment of a promise made to them or on their behalf, even if the principal is deceased.