- This topic has 1 reply, 2 voices, and was last updated 1 year ago by
.
Viewing 2 posts - 1 through 2 (of 2 total)
- Posts
Can you please help me understand these two terms?
Exclusion Clauses
Doctrine of PrivityHi
So an “exclusion clause” is any clause that seeks to avoid liability e.g. Some companies have a contractual clause in their contracts stating “We are not liable for any damage caused whilst you are on our premises, its at your own risk”.
Doctrine of Privity- means that only the 2 parties to a contract can enforce the contract. Third parties can not enforce the contract. So for example if I have a contract to borrow money from a bank, only me and the bank can enforce the contract. My wife (a third party) does not have any rights on my contract as it is “private/privity”.
Does this help?
Vijay
Viewing 2 posts - 1 through 2 (of 2 total)
- You must be logged in to reply to this topic.