Privity of Contract Is a Principle That Holds That a Contract

question 148

True/False

Privity of contract is a principle that holds that a contract can only affect the immediate parties to it.

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Definitions:

Different Business Area

Various sectors or divisions within a business environment that each focus on distinct operational or market-related activities.

Concentration

The action of focusing one’s attention or mental effort on a specific object, task, or activity without getting distracted.

Fast Food Chain

A business that serves quick service food across multiple outlets, focusing on convenience, speed, and consistency.

Expanding Operations

The process of increasing a company's scope of activities, which can involve entering new markets, launching new products, or increasing production capacity.