Explain the concept of privity of contract and two exceptions to this legal concept.
Explain the concept of privity of contract and two exceptions to this legal concept.
Homework Answers
Privity of contract is the law which commonly provides the principle that says that a contract cannot give any right to any person (s) who is not a part of the contract, at the same time it also does not impose any obligation to any person (s) who is not a part of the contract. In short privity of contract is limited only to the persons who are party to the contract in terms of giving any right or imposing obligations; it does not impact any person in terms of giving any right or imposing obligations who are not party to the contract.
There are a few exceptions to this legal concept; two out of those exceptions are given as under:
- A third party may sue the seller or the manufacturer if it is getting adversely affected by flaws in the goods being defective.
- A third party may sue the insurance company if it is getting adversely affected due to accident caused by an insured automobile provided the court rules in favour of automobile owner.
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Explain the concept of privity of contract and two exceptions to
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