August 20 2013

Legal Vocabulary: Parol Evidence Rule

“The parol evidence rule applies to written contracts to safeguard the terms of the contract. The courts assume by the parol evidence rule that contracts contain the terms and provisions that the parties specifically intended and lack those provisions that the parties did not want. The parol evidence rule applies to integrated contracts and provides that when parties put their agreement in writing, all prior and contemporaneous oral or written agreements merge in the writing. Courts do not permit integrated contracts to be modified, altered, amended, or changed in any way by prior or contemporaneous agreements that contradict the terms of the written agreement.” [SOURCE: The Free Dictionary]

Machine Brief:
Option #1: parol evidence rule: PA/ROL/AEFD/RAOUL
Option #2: parol evidence rule: PRO*EL/AEFD/RAOUL

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Posted August 20, 2013 by Elsie Villega in category "Briefs", "Legal", "Vocabulary

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