Privity of contract

{
  "id": "MLC-T-INS-002679",
  "term": "Privity of contract",
  "field": "Insurance and risk management",
  "definition": "The direct contractual relationship between two or more parties, which is a prerequisite for bringing a lawsuit based on the contract. Only parties to a contract can sue or be sued under that contract. In insurance, this means that only the policyholder and the insurer typically have rights and obligations directly under the policy.",
  "url": "https://mlchart.com/terminology/insurance/privity-of-contract/"
}