“Party of the Second Part” is a term commonly used in legal documents, particularly contracts, to refer to one of the involved parties. It is often used alongside “Party of the First Part” to clearly delineate the roles and responsibilities of each party in the agreement. The “Party of the Second Part” typically refers to the individual or entity that is mentioned second in the contract or holds a secondary position in the transaction or agreement being discussed. This term helps to clarify the identities and obligations of the parties involved in the contractual relationship.
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This glossary post was last updated: 29th March 2024.
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