Paragraph 3 maintains the normal limitation periods of 6 years for a simple contract and 12 years for a contract performed under lock and key and makes these periods applicable to third parties exercising their rights under a contract. However, the parties may expressly agree to limit these rights and impose a shorter limitation period. Article 2 of the Act governs the amendment and termination of contracts. It prevents the contracting parties from repealing or amending it in order to remove or modify the conditions concerning the third party if the third party has informed the enhancer that it „accepts” the condition or that it has relied on the contract (and the promisor knows or must expect to have known).   This is only the default position; The law allows the parties to include in the contract clauses that allow them to terminate or modify the contract without the consent of the third party if they wish.  Courts may ignore the third party`s consent and allow the promisor and promise to amend the contract if the third party is mentally incapable or untraceable, or if it is impossible to say whether the third party has actually consented. At the same time, the courts may add conditions to this decision, such as.B. the obligation of promise or promise to pay compensation to third parties.  If the third party brings an action and the signatory subsequently does so, the consenting party cannot claim damages. Indeed, the Law Commission was of the view that if the third party demanded compensation for the breach, the promisor would no longer be interested in the dispute.
 This does not take into account situations in which the secured creditor has suffered personal injury as a result of the breach of contract.  If the promisor first brings an action, he is prohibited from doing so unless the promettant`s claim fails, in which case the third party is free to assert his or her own claim.  The Regulation also allows a third party to apply the terms of the contract if a contractual term is intended only to confer an advantage on an identifiable third party (Article 4(1)(.b)(4)(2)). This approach may not be surprising. The construction industry lobbied for various changes, including one that the law would have completely excluded from construction contracts! The Lord Chancellor is very brief on this amendment. Contracting parties are free to grant narrow or extensive rights to third parties or to exclude the law altogether. The latter approach has been adopted by the authors of some model contracts, such as the 1999 Standard Form for the Appointment of Architects, the ACE Terms of Order, the 7th edition of the AIC and the YCW Model Forms (although the Mixed Contract Tribunal may change its position once it has had the opportunity to examine the provisions of the Act in more detail). The third party must be identified by name or as a member of a specific group and does not have to exist at the time of conclusion of the contract.   However, this can lead to problems – for example, if one party (Part A) enters into a contract for another party (Part B) to construct a building, and A later sells the building to C, who finds that he has structural problems, C has no reason to sue B because he was not mentioned in the original contract.  A seller often agrees not to participate in contests. If the seller does not comply with its obligation, the members of the buyer group may suffer prejudice. It is common for contracts under English law to use statutory rights to allow group companies to apply restrictive agreements directly.
Section 6 creates exceptions to the scope of the Act. .