vertical privity

vertical privity
vertical privity n
1: privity between one who acquires property burdened with a restrictive covenant and those who executed the covenant
require vertical privity for a restrictive covenant to run with the land
2: privity between parties (as a manufacturer and retailer) who occupy adjoining levels in a system of product distribution

Merriam-Webster’s Dictionary of Law. . 1996.

vertical privity
A legal relationship in corporate law that exists between companies in the chain of distribution of a product. This relationship creates responsibilities between the companies involved, including being liable for defects in the product. For example, vertical privity exists between the manufacturer of a car and the dealership that sells it. Therefore, both the dealer and the manufacturer are liable for defects in cars sold by the dealership.
Category: Business, LLCs & Corporations → LLCs, Corporations, Partnerships, etc.
Category: If, When & Where to File a Lawsuit
Category: Mediation, Arbitration & Collaborative Law
Category: Small Claims Court & Lawsuits
Category: Working With a Lawyer

Nolo’s Plain-English Law Dictionary. . 2009.

Игры ⚽ Нужно сделать НИР?

Look at other dictionaries:

  • vertical privity —    A legal relationship between companies in the chain of distribution of a product that creates certain responsibilities, including liability for defects in the product. For example, vertical privity exists between an automobile manufacturer and …   Business law dictionary

  • privity — priv·i·ty / pri və tē/ n pl ties [Old French privité privacy, secret, from Medieval Latin privitat privitas, from Latin privus private] 1: the direct connection or relationship between parties to a contract or transaction (as a purchase) privity… …   Law dictionary

  • privity — In its broadest sense, privity is defined as mutual or successive relationships to the same right of property, or such an identification of interest of one person with another as to represent the same legal right. Petersen v. Fee Intern., Ltd., D …   Black's law dictionary

  • Privity of contract — Contract law Part o …   Wikipedia

  • privity —    A direct contractual relationship between parties, such as exists between a consumer and a retailer, but not between a consumer and a wholesaler or manufacturer, who are farther away in the distribution chain. Contract law requires that there… …   Business law dictionary

  • Privity of estate — is the concept in property law that there is a legal relationship between a landlord and a tenant, with shared rights and responsibilities. this relationship does not arise out of contract but connected through possession of the property on the… …   Wikipedia

  • Covenant running with the land — A covenant running with the land, is a real covenant, in the law of real property. It is a nonpossessory interest in land in one form as an agreement between adjoining landowners to do something (affirmative covenant) or to refrain from doing… …   Wikipedia

  • Covenant (law) — Property law Part of …   Wikipedia

  • Real Covenant — A real covenant is a term used in real property law to describe a promise concerning the use of land. Real covenants are classified as either affirmative, a promise to do something (e.g. build a fence) or negative, a promise to not do something… …   Wikipedia

  • Resale price maintenance — (RPM) is the practice whereby a manufacturer and its distributors agree that the latter will sell the former s product at certain prices (resale price maintenance), at or above a price floor (minimum resale price maintenance) or at or below a… …   Wikipedia

Share the article and excerpts

Direct link
… Do a right-click on the link above
and select “Copy Link”