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privity

priv·i·ty [ prívvətee ] (plural priv·i·ties)


noun 
Definition:
 
1. shared knowledge of secret: the state of sharing knowledge of or colluding in something secret

2. law legally recognized relationship: a legally recognized relationship between two parties, e.g. between members of a family, between an employer and employees, or between others who have entered into a contract together

3. law relationship to property: a successive or mutual relationship to some property

[12th century. Via French< medieval Latin privitas< Latin privus "single, isolated"]
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