Privity of contract definition

Privity of contract means, “[t]hat connection or relationship which exists between two or more contracting parties” that “was traditionally essential to the maintenance of an action on any contract.” (Black’s Law Dict. (6th ed. 1990) p. 1199, col. 2.)
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Privity of contract means relationship subsisting between the parties who have entered into contractual obligations”. • Consequences of doctrine of “Privity of contract” • A person who is not a party to a contract cannot xxx upon it even though the contract is for his benefit or he provided consideration • A contract cannot give rights or impose obligations arising under it on any person other than the parties to it.
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Privity of contract means A. A contract is contract between the parties only 1.00 B. A contract is a private document C. Only private documents can be contracts D. The contracts may be expressed in some usual and reasonable manner 32 Consideration in a contract : A. May be past, present or future 1.00 B. May be present or future only C. Must be present only D. Must be future only 33 The fixed amount of compensation payable in case of breach and which is fair and genuine pre-estimate of probable damages, is known as A. Liquidated damages 1.00 B. Nominal damages C. Special damages D. Penalty 34 A stipulation which provides that an increased rate of interest will be paid from the date of default is regarded as . A. Remote damages B. Liquidated damages C. Penalty 1.00 D. None of these 35 "Consensus-as-idem" means . A. General Consensus B. Meeting of minds upon the same thing in the same sense 1.00 C. Reaching an agreement D. Reaching of contract 36 is a one-sided contract in which only one party has to perform his promise or obligation. A. Void contract B. Illegal agreement C. Unilateral contract 1.00 D. Bilateral contract 37 All Contract is a/an . A. Offer B. Agreement 1.00 C. Acceptance D. Transaction 38 For an acceptance to be valid, it must be A. Partial & qualified B. Absolute and unqualified 1.00 C. Partial and unqualified D. Absolute and qualified
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Examples of Privity of contract in a sentence

  • Privity of contract does not apply to tort actions under Oklahoma law.

  • Privity of contract or standing as a third-party beneficiary of the contract is required in order to be protected by the warranty.

  • Law of Contract: Contract Act 1872; General principles/essential features/types of contract, What is Contract, Proposal, Acceptance, Consideration, Privity of contract, Agreement, Capacity to contract, Free consent, Object & consideration, Void agreements, Performance of contract, Remedies for breach of contract, Quasi contracts.

  • Privity of contract is an obligation between two parties who have entered into a contract together, such as a lease.

  • Privity of contract is the legal relationship that exists between two contracting parties, for example, between the prime contractor and the United States.

  • Privity of contract and parole evidence preserve the sanctity of contract9 as a matter of public policy.

  • Singing this Declaration states the Privity of contract to the User and to the Central Library, which governs the Lending procedure in the Library collections.

  • Privity of contract or standing as a third-party beneficiary of the contract are required in order to be protected by the warranty.

  • EPA should make it clear that Subpart 1515.970–2(b)(iv)cannot be interpreted to allow only one profit or fee determination for both the general contractor and subcontractor levels of an acquisition.Response: Privity of contract is anestablished principle in Governmentcontracting.

  • Privity of contract is a prerequisite to a claim of innocent misrepresentation.

Related to Privity of contract

  • Assignment of Contracts shall have the meaning provided in Section 5.07.

  • Non-Assignable Contract means any agreement, contract or license to which any Grantor is a party that by its terms purports to restrict or prevent the assignment or granting of a security interest therein (either by its terms or by any federal or state statutory prohibition or otherwise irrespective of whether such prohibition or restriction is enforceable under Section 9-406 through 409 of the UCC).

  • Conditions of Contract means those statements contained in or delivered with your Ticket/s or Itinerary/Receipt, identified as such and which incorporate by reference, these Conditions of Carriage and notices.

  • Breach of Contract means the failure of a Party to perform any of its obligations in accordance with this Contract, in whole or in part or in a timely or satisfactory manner. The institution of proceedings under any bankruptcy, insolvency, reorganization or similar law, by or against Contractor, or the appointment of a receiver or similar officer for Contractor or any of its property, which is not vacated or fully stayed within 30 days after the institution of such proceeding, shall also constitute a breach. If Contractor is debarred or suspended under §24-109-105, C.R.S. at any time during the term of this Contract, then such debarment or suspension shall constitute a breach.

  • Contract or Contract Document means the written agreement executed by the Owner and Contractor setting forth the obligations of the parties, including but not limited to performance of the work, furnishing of labor, equipment and materials, and the basis of payment. It shall include but not necessarily be limited to the Request for Qualifications, Contractor’s Submittal, the Invitation for Bid, the Bid, the General Conditions of the Contract, Special Provisions, Performance Bond, Payment Bond, Certificate of Insurance, Drawings, Specifications, Addenda, Minority Enterprise Business forms, written Change Orders, extra Work Orders, and Agreements required to complete the construction of the project, including authorized extensions thereof, in an acceptable manner, all of which constitute one instrument.

  • sub-contract means the primary contractor’s assigning, leasing, making out work to, or employing, another person to support such primary contractor in the execution of part of a project in terms of the contract;

  • Special Conditions of Contract means the pages completed by the Procuring Entity entitled Special Conditions of Contract which constitute Part A of the Special Conditions.

  • Interest Protection Agreement of any Person means any interest rate swap agreement, interest rate collar agreement, option or futures contract or other similar agreement or arrangement designed to protect such Person or any of its Subsidiaries against fluctuations in interest rates with respect to Indebtedness.

  • BREACH OF CONTRACTUAL OBLIGATION means amongst others also the following:

  • leasing agreement means an agreement by which one person (the lessor) grants a right to possession or control of an object (with or without an option to purchase) to another person (the lessee) in return for a rental or other payment;

  • Contract means the written agreement entered into between the purchaser and the supplier, as recorded in the contract form signed by the parties, including all attachments and appendices thereto and all documents incorporated by reference therein.

  • Individual contract means a contract for health care services issued to and covering an individual. The individual contract may include dependents of the subscriber.

  • SCM Agreement means the Agreement on Subsidies and Countervailing Measures in Annex 1A to the WTO Agreement;

  • Consortium Agreement means this consortium agreement as well as the pre-amble and all annexes hereto;

  • Contract of Sale means a contract for the sale of an object by a seller to a buyer which is not an agreement as defined in (a) above;

  • Contract Rights means all rights of any Assignor under each Contract, including, without limitation, (i) any and all rights to receive and demand payments under any or all Contracts, (ii) any and all rights to receive and compel performance under any or all Contracts and (iii) any and all other rights, interests and claims now existing or in the future arising in connection with any or all Contracts.

  • Governmental contract means a contract awarded by a governmental entity for general construction, an improvement, a service, or a public works project for a purchase of supplies, materials, or equipment. The term includes a contract to obtain a professional or consulting service subject to Government Code, Chapter 2254.

  • Parent Contract means any Contract: (a) to which Parent is a party; (b) by which Parent or any Parent IP or any other asset of Parent is or may become bound or under which Parent has, or may become subject to, any obligation; or (c) under which Parent has or may acquire any right or interest.

  • General Conditions of Contract means the ‘Instructions to Tenderers’ and ‘General Conditions of Contract’ pertaining to the work for which above tenders have been called for.

  • Affiliate Contracts shall have the meaning set forth in Section 4.11(b).

  • Property Agreements means all agreements, grants of easements and/or rights-of-way, reciprocal easement agreements, permits, declarations of covenants, conditions and restrictions, disposition and development agreements, planned unit development agreements, parking agreements, party wall agreements or other instruments affecting the Property, including, without limitation any agreements with Pad Owners, but not including any brokerage agreements, management agreements, service contracts, Space Leases or the Loan Documents.

  • Labor peace agreement means an agreement between an entity and a

  • GENERAL AND SPECIAL CONDITIONS OF CONTRACT means the instructions to Tenderer and General and special conditions of contract pertaining to the work for which above tenders have been called for.

  • Contract Agreement means the contract agreement referred to in Sub-Clause 1.6 [Contract Agreement].

  • Affiliate Contract means any contract or agreement between the Company or any of its Subsidiaries (including the Partnership Group), on the one hand, and any Member or Members or any Affiliate or Affiliates of Members, on the other hand.

  • Contract Right means any right, power or remedy of any nature under any Contract including rights to receive property or services or otherwise derive benefits from the payment, satisfaction or performance of another party’s Obligations, rights to demand that another party accept property or services or take any other actions, and rights to pursue or exercise remedies or options.