Privity of Contract Meaning in Telugu
Privity of contract is a legal term that refers to the relationship between two parties who have entered into a contract with each other. This relationship is important because it governs the rights and obligations of each party under the contract and determines who has legal standing to sue or be sued in the event of a breach of contract.
However, understanding the meaning of privity of contract can be difficult, especially when it comes to translating legal terms into different languages. In this article, we will explore the meaning of privity of contract in Telugu, one of the most widely spoken languages in India.
The term privity of contract in Telugu can be translated as “ఒప్పందంలో సంబంధం” (oppanadhamlo sambandham). This refers to the legal relationship between parties who have entered into a contract, and the rights and obligations that arise from that relationship.
For example, if two companies enter into a contract to supply goods, they are in privity of contract with each other. This means that they are both bound by the terms of the contract and have legal standing to sue or be sued in the event of a breach.
It is important to note that privity of contract only applies to the parties who have entered into the contract. It does not extend to third parties who may be affected by the contract, such as employees or customers.
In addition, privity of contract can be modified or waived by the parties involved. For example, a contract may include a clause that allows for third-party beneficiaries who can sue for breach of contract.
In conclusion, privity of contract is an important legal concept that governs the relationship between parties who have entered into a contract. The Telugu translation of this term is “ఒప్పందంలో సంబంధం” (oppanadhamlo sambandham), and it is essential for understanding the rights and obligations of each party under the contract.