Who is referred to as the person to whom a promise is owed in a contract?

The term that describes the person to whom a promise is owed in a contract is known as the creditor beneficiary. In contractual relationships, the creditor beneficiary is an individual or entity that stands to gain a benefit from the fulfillment of a promise or obligation made in a contract, specifically when that promise is intended to benefit them. This person has the right to enforce the contract if the promisor fails to fulfill their obligation, thus establishing their role as a beneficiary entitled to the performance of the contractual promises.

In the context of contract law, this role is crucial in distinguishing between different parties involved. The promisor is the party making the promise, while the obligor refers to the party who is bound to fulfill the obligation. A third party could also be involved but does not specifically denote the individual to whom the promise is owed, as they may or may not have any rights or benefits from the contract. Understanding this terminology helps clarify the dynamics of contract relationships and the rights of each party involved.