Final answer:
The party for whose benefit the bond is written is called the bondholder. The bondholder is the individual who owns the bond and receives the interest payments from the firm.
Step-by-step explanation:
The party for whose benefit the bond is written is called the bondholder. The bondholder is the individual who owns the bond and receives the interest payments from the firm. If the firm fails to make the promised interest payments, the bondholders can take the firm to court and require it to pay.