privity
- The direct relation or connection that exists between parties involved in a contract or transaction, such as a purchase
- A shared or sequential interest, specifically in the same property rights, which could stem from inheritance or acquisition
- An interest in a deal, agreement, or action that doesn't come from direct involvement but rather from being related to one of the participants or from having an identical interest in the original subject matter
- The shared or individual comprehension of a private issue
- Although not directly involved in the transaction, the lender was in privity due to their relationship with one of the parties.
- The siblings found themselves in privity when they shared an interest in the property they inherited from their parents.
- Having purchased identical shares in the company, the investors were in privity with respect to their investment.
Provide Feedback
