/ˈprɪvəti ʌv ˈkɒntrækt/ – Phrase
Definition: 1. các quan hệ hợp đồng, quyền lợi chung theo hợp đồng;
2. tính chất riêng tư của mối quan hệ hợp đồng.
A more thorough explanation: Privity of contract refers to the legal relationship between parties who have entered into a contract, such that they have mutual rights and obligations arising from the contract and can enforce those rights against each other. It generally means that only parties who are directly involved in a contract have legal rights and obligations under that contract, and third parties typically do not have the same rights or obligations.
Example: The third party did not have privity of contract with the original parties, and therefore could not enforce the terms of the agreement.