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Who or what is the 2nd party.

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sigma | 07:59 Thu 03rd May 2012 | Law
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Concerning things legal I've heard of the 1st and 3rd party but who or what is the 2nd party.
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In an insurance policy the second party is the insurer
08:05 Thu 03rd May 2012
The second party is the second named person in the contract. In a contract between Smith and Jones Smith is the first party and Jones is the second party. Anyone else is a third party as they are not parties to the actual contract.
In an insurance policy the second party is the insurer
The one in the middle?
Sorry couldn't resist that.
Funny you should ask that. Someone at work yesterday questioned the same thing when a crime was being discussed on the radio and it said there was a third party involved. Couldn't work out why they were called the third party and not the secon party.

I wonder the same with floors. Why is it called the first floor - it's the second one.
Or third floor if you count the basement floor. In many European countries the first floor is the ground floor.
The phrase was used on BBC radio news yesterday when referring to the possibility of someone else being in the flat of Gareth Williams.
Was it used incorrectly or does it have another meaning where crime is involved?
That's the new that raised the question in our office Douglas.

Mike, I agree with them. The ground floor is actually the first floor.
I think it was used incorrectly as in that case there the victim was the first party. A sloppy use of language whereby the term third party has come to mean someone unknown.

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