Privity of a Contract-It means that a contract id private between contracting parties that is if there is contract between 'A' and 'B' then it is private between them...'C' The third party is neither bound by any contractual terms between 'A' and 'B' NOR 'C' can be a beneficiary between A and B........the contract is private between 'A' and 'B'............Prommisory estoppel is actually an estoppel"Stop" for making 2nd statement...that is if i contracted with my estate agent that even if he let out my building at half price i will be ok...now if after some times i give secend statement by claiming full rent amount the court of law will stop me for giving 2nd statement
