Law College

The Parol Evidence rule is relevant only in cases:
A. that are oral in nature.
B. where parties have expressed an agreement.
C. of the sale of goods.
D. subsequent modification do not have a suitable consideration

Answers

Answer 1

The Parol Evidence rule is relevant only in cases where parties have expressed an agreement.What is the Parol Evidence rule?Parol evidence rule is a legal principle that preserves the integrity and finality of a written document.

It is a substantive common law rule that governs the usage of evidence of oral or written communications that are made before or at the time of executing a written contract in regards to that agreement.In the United States, the parol evidence rule has been widely implemented in all types of contracts, although the term "parol" is most commonly used to describe contracts for the sale of goods. This rule governs when an extrinsic evidence or an outside document may or may not be introduced to interpret or complete a contract.What is the relevance of Parol Evidence rule?Parol Evidence Rule is significant in cases where parties have expressed an agreement. This rule has the following relevance:It prevents fraud and perjury by maintaining the finality of the written agreement.It preserves the contract’s sanctity and serves to restrict contradictory or non-conforming evidence that is presented for the same purpose. It ensures the interpretation of the written contract as intended by the parties.It reduces the scope of expensive and time-consuming litigation. It restricts claims of oral promises or statements that would otherwise allow a party to stray from their agreement’s stipulated provisions.

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Related Questions

Steps in the bank reconciliation process

Answers

Answer:

Steps:

Explanation:

1: Compare the bank account balance to the cash balance on your books

2: Scrutinize your bank statement

3: Scrutinize your cash book

4: Adjust the balance of your bank account

5: Adjust the balance of your books

6: Record the reconciliation

(Hope this helps?)

The graph shows the market for graphic T-shirts.
Price in Dollars
18
16
14
12
10
8
4
2
10
20
40
Quantity Supplied
→
50
What does the graph show about the relationship
between a product and its price?
O As the amount of a product goes up, the price goes
up.
O As the amount of a product goes down, the price
goes up.
O As the interest in a product goes up, the price goes
up.
O As the interest in a product goes down, the price goes
up.

Answers

The relationship between a product and its price is that as the interest in a product goes up, the price goes up. Thus, Option C is the correct statement.

What is the relationship between a product and its price?

The theory of price states that, the price is affected by various factors in the market and these factors can influence the price of the product.

The factors may be as follows  -

Income of the consumers.Price of substitute goods.Price of complementary goods.Taste and preferences of consumers.

Thus, the relationship between a product and its price is that as the interest in a product goes up, the price goes up. Thus, Option C is the correct statement.

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Full Question:

Although part of your question is missing, you might be referring to this full question:

The graph shows the market for graphic T-shirts.

What does the graph show about the relationship between a product and its price?

As the amount of a product goes up, the price goes up.

As the amount of a product goes down, the price goes up.

As the interest in a product goes up, the price goes up.

As the interest in a product goes down, the price goes up.

See attached image.

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