A Word Of Caution On 'No Third-Party Beneficiary' Clauses

By Glenn West (July 7, 2017, 11:10 AM EDT) -- On July 20, 1866, a little-known naval battle took place off the coast of modern-day Croatia. The battle, known as the Battle of Lissa, pitted the naval forces of the Austrian Empire against those of the Italians. It was apparently the first naval battle to involve a fleet of ironclad warships on both sides, which were mixed in with the older wooden variety. At the battle, the smaller Austrian fleet defeated the larger Italian fleet. Afterward, the credit for the Austrian win was given to the Austrians' aggressive ramming of the Italian ships because the cannon were ineffective against the ironclads (in one case a wooden Austrian ship rammed and sank an ironclad Italian ship)....

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