Steel, Inc., and Transport Company enter into a contract. UniOil Corporation, which will indirectly benefit from the deal, is prevented from having rights under the contract by the principle of

Question

Steel, Inc., and Transport Company enter into a contract.  UniOil Corporation, which will indirectly benefit from the deal, is prevented from having rights under the contract by the principle of

Quizplus · Accepted Answer

The principle of privity of contract states that only the parties involved in the contract have rights and obligations under it, preventing third parties like UniOil Corporation from having rights.