Practice Quiz

PHR Human Resources Exam Prep

Category - Strategy

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In what kind of transaction is a contract provided by an entity that is not otherwise involved in the agreement?
  1. Request for proposal
  2. Terminal contract
  3. Third-party contract
  4. Bought contract
Explanation
Answer - C - In a third-party contract, the contract is provided by an entity that is not otherwise involved in the agreement.

Key Takeaway: 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.
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