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What (who) is privity$64012$ - definition
Privity
LEGAL TERM
Privity (law)
·adj The genitals; the privates.
II. Privity ·adj Privacy; secrecy; confidence.
III. Privity ·adj A private matter or business; a secret.
IV. Privity ·adj Private knowledge; joint knowledge with another of a private concern; cognizance implying consent or concurrence.
V. Privity ·adj A connection, or bond of union, between parties, as to some particular transaction; mutual or successive relationship to the same rights of property.
privity
LEGAL TERM
Privity (law)
n. contact, connection or mutual interest between parties. The term is particularly important in the law of contracts, which requires that there be "privity" if one party to a contract can enforce the contract by a lawsuit against the other party. Thus, a tenant of a buyer of real property cannot sue the former owner (seller) of the property for failure to make repairs guaranteed by the land sales contract between seller and buyer since the tenant was not "in privity" with the seller.
See also: contract
Privity
LEGAL TERM
Privity (law)
Privity is the legal term for a close, mutual, or successive relationship to the same right of property or the power to enforce a promise or warranty. It is an important concept in contract law.
