Privity
Pronunciation: /ˈpɹɪvɪtaɪ/
Privity (noun)
- A legal connection between parties in a contract or agreement.
- Knowledge shared only between certain people, not public.
Examples
- Privity exists between the buyer and the seller in a contract.
- Without privity, a third party cannot enforce the contract terms.
Common collocations: establish privity, lack of privity, privity of contract, privity of information, exclusive privity