Webster's English Dictionary

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privity

priv.i.ty \'priv-*t-e-\ n [ME privite, fr. OF, fr. ML privitat-, privitas, 
   fr. L pri]vus private - more at PRIVATE 1: private or joint knowledge of a 
   private matter; esp : cognizance  implying concurrence 2a: a relationship 
   between persons who successively have a legal interest i n the same right 
   or property 2b: an interest in a transaction, contract, or legal action to 
   which one is  not a party arising out of a relationship to one of the 
   parties