Legal Relationships

Private Law
Private Law governs the relationships between private individuals, companies, or organizations. Unlike Public Law, it does not involve government intervention and encompasses various legal disciplines including contract, tort, property, and family law.
Privity
Privity refers to the direct relationship between parties that is necessary for legal liability or mutual interest to exist. It's a fundamental concept in different domains of law, especially contract and property law.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.