The term "privity" means mutual or successive relationship to the same rights of property. The executor is in privity with the testator, the heir with the ancestor, the assignee with the assignor, the donee with the donor, and the lessee with the lessor. Union Nat. Bank v. International Bank, 123 I1L 510, 14 N. E. 859; Hunt v. Haven, 52 N. H. 169; Mygatt v. Coe, 124 N. Y. 212, … [Read more...]
PRIVITY
TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed.