The Doctrine of Privity states that only parties to a contract may _____or ______under the contract.

The term 'privity of contract' refers to:Group of answer choicesthe fact that an auditor appointed to conduct a statutory audit cannot reduce their liability by contractthe mandatory requirement that there must be an engagement letter setting out the terms of the audit contractthe fact that an audit is to be performed in accordance with professional standardsthe contractual relationship that exists between two or more contracting parties

How can the privity rule be circumvented?Question 4Select one or more:a) Estoppel may be asserted by the person seeking to take the benefit of the contract.b) By the parties to a contract conferring a benefit on a non-party.c) The person seeking to take the benefit of the contract may be able to claim misleading or deceptive conduct.d) There may be an entitlement to claim damages in tort by the person seeking to benefit under the contract.

Which of the following refers to a contract by which one party promises to save the other from loss caused to him by the conduct of the Promisor himself, or by the conduct of any other person'?

Which one of the following elements is not necessary for a contract?Question 4Answera.  Competent partiesb.Lawful concentration.c.Reasonable terms and conditionsd.Free consentClear my choice

What is principlism