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privity definition

priv·ity (priv′i tē)

noun pl. privities -·ties

    1. private or secret knowledge, as shared between persons
    2. participation in this
  2. Law a successive relationship to or mutual interest in the same property or rights, established by law or legalized by contract, as between a testator and legatee, lessor and lessee, etc.

Etymology: ME privete < OFr < L privus, private

Webster's New World College Dictionary Copyright © 2009 by Wiley Publishing, Inc., Cleveland, Ohio.
Used by arrangement with John Wiley & Sons, Inc.

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