privity

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Relationship between parties out of which arises mutuality of interest.
See also easement ; run with the land .

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This entry contains information applicable to United States law only.

A close, direct, or successive relationship; having a mutual interest or right.

Privity refers to a connection or bond between parties to a particular transaction. Privity of contract is the relationship that exists between two or more parties to an agreement. Privity of estate exists between a lessor and a lessee, and privity of possession is the relationship between parties in successive possession of real property.

A legal interpretation in contract law where contracts are only binding on the parties signing the contract. The idea is that, contracts are private agreements among the signatory parties which should have no bearing on others who are not involved in making the contract. While the doctrine makes sense in certain situations, over time it has proved to be problematic and numerous exceptions to the doctrine of privity are now well accepted.

Investopedia Says:

The doctrine of privity has important implications for the rights of third parties to a contract. For example, consider a life insurance contract that is made between the insurance company and the insured. The arrangement is that the insured will pay premiums, and upon their death, the insurance company will make a payment to the third-party beneficiary. Under the doctrine of privity, the beneficiary would have no right to enforce the contract, since he or she was not a party to the contract. This conclusion is clearly inequitable, therefore, third-party insurance contracts are one of the exceptions to the doctrine of privity.

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Dansk (Danish)
n. - medviden

Nederlands (Dutch)
medeweten

Français (French)
n. - confidentialité

Deutsch (German)
n. - Rechtsbeziehung, Eingeweihtsein

Ελληνική (Greek)
n. - (απόκρυφη) γνώση

Italiano (Italian)
vincolo, conoscenza segreta

Português (Portuguese)
n. - conhecimento (m)

Русский (Russian)
участие, общность интересов

Español (Spanish)
n. - vínculo legal, relación, obligación

Svenska (Swedish)
n. - (hemlig) kännedom, vetskap, intressegemenskap (jur.)

中文（简体）(Chinese (Simplified))
私下知悉, 默契

中文（繁體）(Chinese (Traditional))
n. - 私下知悉, 默契

한국어 (Korean)
n. - 내밀히 관여하기

日本語 (Japanese)
n. - 内々に関与すること, 内々の知識, 当事者関係, 陰部

العربيه (Arabic)
‏(الاسم) اطلاع مشترك‏

עברית (Hebrew)
n. - ‮יחסים דו-צדדיים המוכרים ע"י החוק - קשר-דם, שירות, השכרה, יחסים קרובים, הימצאות בסוד דברים, סודיות‬

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