Privity
Pronunciation : Priv"i*ty
Part of Speech : n.;
Etymology : [From Privy, a.: cf. F. privaut? extreme familiarity.]
Definition : 1. Privacy; secrecy; confidence. Chaucer. I will unto you, in privity, discover . . . my purpose. Spenser.
2. Private knowledge; joint knowledge with another of a private concern; cognizance implying consent or concurrence. All the doors were laid open for his departure, not without the privity of the Prince of Orange. Swift.
3. A private matter or business; a secret. Chaucer.
4. pl.
Defn: The genitals; the privates.
5. (Law)
Defn: A connection, or bond of union, between parties, as to some particular transaction; mutual or successive relationship to the same rights of property.
pl. Privities (-t?z).
Source : Webster's Unabridged Dictionary, 1913