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Question 1 3.5 out of 3.5 pointsA third party beneficiary's status occurs Question 2 3.5 out of 3.5 pointsNewt, a gun dealer, offers to sell a rare civil war musket to Rush, another dealer, for "$15,000, insurance and shipping paid by buyer." Rush responds, "I accept. Insurance and shipping costs dividedequally between seller and buyer." The parties Question 3 3.5 out of 3.5 pointsLawrence took out a life insurance policy in which his daughter, Madeline, is named as a beneficiary. Madeline is a(n)