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"Greed and selfishness do not need to be learned, they are there from childhood," says an old proverb.1 This is likely to be true even today; material interests constantly appeal to people's greed to seek profits, by all means, especially where there is a contract involving money, even if they are not directly contractual parties. On the other hand, stable companies are being destabilised by deceitful people who deliberately break out their contractual obligations by cunningly exploiting some weaknesses in the present legal system relating to the law of contract. In 'England and Wales alone 2,383 cases were set down for trial in Queen's Bench Division during the year 2001, cases involving claims for breach of contract.'2 To help judges to deal with this problem, some guidelines have been established known as 'privity of contact rule' and recently 'Rights of Third Parties Act 1999.'3 What is the essence of the...

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