A PAPER ON PRIVITY OF CONTRACT

Abstract

The overview of this principle is mainly basics a person who is considered a third party isn't really privy to a contract owing to the lack of requirement of consideration, but has an involvement in its implementation. As such, only parties to a contract are given rights and obligations. What this doctrine points to is that they should not sue or be sued by certain parties. Only an individual who is a "party to contractual relationship can sue on it and a stranger to a contract cannot sue" is a foundational concept of policy of contract arising from such interpretations. This concept is recognized as 'privity of contract,' which means that a contract only involves those who are privy to it or that contractual privacy for the compliance of contractual duties and privileges must exist. This paper discusses all the aspects of privity of contract in brief.