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24 December, 06:44

1. Traditionally, only parties to a contract had rights and liabilities under the contract. This was known as the principle of ___.

2. Match the term with the correct definition.

Assignment Transferring

all of the duties arising under a contract to another person

Delegation Transferring all the rights arising under a contract to another person

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Answers (1)
  1. 24 December, 08:49
    0
    Privity of contract, Assignment

    Explanation:

    Privity of contract is the relationship that exist between the parties to a contract which allows them to sue each other meanwhile it prevents a third party from doing so. It is a common law principle which provides that a contract cannot confer rights or impose obligations upon any person who is not a part to the contract.

    Assignment: This is the act of transferring all or part of one's rights arising under a contract to another another person.
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