On The Privity Of Contract And Adjustment Of The Interests Of Third Parties

The privity of contract is the common base of contract law in the continent law system and the American law system. However, the theory is be challenged in many fields, especially in the theory being short of protecting the third party. Now days, how to evaluate the privity of contract? What is the value of the theory? Whether should we still take it be a basic theory in contract law or not? If yes, how to balance the relationship between the theory and the third party? All the above have important meanings. The article suppose that the privity of contract is still the essence of the contract system, so we should .acknowledge the dominating status of the theory in contract law. However, if the privity of contract is confirmed, how to balance the benefit of the third party will be the most important question. The mostly aspect of the live relationship is abstracted by Law, at the same time, the subordination aspect is abandoned. But, with law goes deep into the live relationship, all kinds of the third party will come out. We should admit the privity of contract in one hand, and protect the third party in the other. The methods to protect the third party are four: the contract relating others, save from damage of credit, aggrieving creditor by the third party, and the contract protecting the third party. The article suppose that we should improve the contract relating others and save from damage of credit in our law system, adopt aggrieving creditor by the third party, and abandon the contract protecting the third party.