Purchase Solution

Parol Evidence Rule

Not what you're looking for?

Ask Custom Question

Parol Evidence Rule says that if a written contract is a complete and final statement of the parties' agreement, any prior or comtemporaneous oral or written statements that alter, contradict, or are in addition to the terms of the written contract are inadmissable in court regarding a dispute over the contract.

Basically, what is being said here is that "a written contract is viewed as the best evidence of the terms that the parties agreed to", and the courts will not allow the use of extrensic documents in a dispute over the terms of the contract. The contract stands on its own, up to the court's intrepretation.

what is your opinon (300+words)

Purchase this Solution

Solution Preview

The Parol Evidence Rule makes sure that somebody does not try to circumvent the legal contract system to their own favor by doing something when the contract is formed in order to alter the conditions of the contract later on. In this case a person can agree on paper to one thing but then agree orally to something else. Later on, if something changes, the person can think that his "oral" agreement will act as a kind of insurance policy to ...

Purchase this Solution


Free BrainMass Quizzes
Understanding the Accounting Equation

These 10 questions help a new student of accounting to understand the basic premise of accounting and how it is applied to the business world.

Balance Sheet

The Fundamental Classified Balance Sheet. What to know to make it easy.

Academic Reading and Writing: Critical Thinking

Importance of Critical Thinking

Writing Business Plans

This quiz will test your understanding of how to write good business plans, the usual components of a good plan, purposes, terms, and writing style tips.

Managing the Older Worker

This quiz will let you know some of the basics of dealing with older workers. This is increasingly important for managers and human resource workers as many countries are facing an increase in older people in the workforce