Privity Definition and Legal Meaning
On this page, you'll find the legal definition and meaning of Privity, written in plain English, along with examples of how it is used.
What is Privity?
n.The mutual, close and successive relationship between two parties for a particular transaction or property or contract where they both share a common interest.Thus, it’s a relationship close enough such that one party can support the legal claims for or against the party in above relation. In the absence of privity, the subcontractor cannot claim any damages to contract with the prime party who signed the contract with the main contracter.