Ask Question
BusinessBusiness
23 May, 04:04

Privity of contract refers to the relationship that exists between the parties to a contract. True or False

+4
Answers (1)
  1. 23 May, 04:44
    0
    Answer: True

    Explanation: Under the doctrine of "Privity of contract" it is a common law which state that a contract can not confer any right to a person or imposed any obligation upon anyone who is not a party to the contract. only parties involved in the contract are allowed to sue to enforce rights or claims on damages.

    It is "true" that Privity of contract refers to the relationship that exists between parties to a contract.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Privity of contract refers to the relationship that exists between the parties to a contract. True or False ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Matthew owns 30 percent of the outstanding stock of Lindman and has the ability to significantly influence the investee's operations and decision making. On January 1, 2015, the balance in the Investment in Lindman account is $337,000.
Answers (1)
Which statement is false about the circular-flow diagram? A. Money flows in the direction opposite to goods and services and factors of production. B. Money flows from households to firms as households offer factors of production for sale. C.
Answers (1)
On January 1, 2021, Legion Company sold $250,000 of 6% ten-year bonds. Interest is payable semiannually on June 30 and December 31. The bonds were sold for $163,976, priced to yield 12%. Legion records interest at the effective rate.
Answers (1)
When stock traded on an active exchange is issued for a machine: A. No entry is recorded until restrictions are lifted. B. An asset is recorded for the fair value of the stock. C. An asset is recorded for the appraised value of the machine. D.
Answers (1)
Since projects are planned organizational change, the project manager and team do not need to worry about the political climate within the organization because top management has a firm understanding of the organization's culture, environment,
Answers (1)
New Questions in Business
Suppose that your school pays one rate for the first one million kilowatts of electricity and a lower rate for any power it uses over one million kilowatts. what economic concept is occurring here? a. perfect price discrimination b.
Answers (2)
If, as a person consumes more and more of a good, each additional unit adds less satisfaction than the previous unit consumed, we are seeing the workings ofA) the law of demand. B) the law of supply.
Answers (1)
Speed adjustments on the highway are necessary because of what three factors? name them and describe why they alter the driving task.
Answers (1)
You have $32,051.03 in a brokerage account, and you plan to deposit an additional $5,000 at the end of every future year until your account totals $280,000. You expect to earn 12% annually on the account.
Answers (1)
What would happen to the equilibrium price and quantity of peanut butter if the price of peanuts went up, the price of jelly fell, fewer firms decided to produce peanut butter, and health officials announced that eating peanut butter was good for
Answers (1)
Home » Business » Privity of contract refers to the relationship that exists between the parties to a contract. True or False
Sign Up Forgot Password?