S 5 A - parol evidence rule - have to be separate...

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S 5 A – Parol Evidence Rule Parol evidence rule – prevents a party from adding a term previously agreed upon in negotiations but not included in the final written contract, (parol – extrinsic to, outside the contract) If it can be shown that the final written document did not contain the entire contract as in cases where the contract is part oral and part written, then evidence of the oral agreement may be introduced. Oral agreements may alter contracts after they have been made as well. Collateral agreement – a separate agreement between the parties made at the same time as, but not included, the written document In these cases there may be a liability on the collateral agreement, but there will
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Unformatted text preview: have to be separate consideration for the agreement to be enforceable. Condition precedent any set of circumstances or events that the parties stipulate must be satisfied or must happen before their contract takes effect Implied term not expressly included by the parties in the agreement but which, as reasonable people, they would have included had they thought about it 1 Courts will imply terms to make contract effective, if not the fair expectations of a party would be defeated (Moorcock case) 2 Courts will not imply a terms that is contrary to the expressed intent of the agreement. 3 Courts will not go further than is necessary and will not make a new contract for the parties....
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This note was uploaded on 12/10/2011 for the course COMM 393 taught by Professor Elaine during the Spring '10 term at The University of British Columbia.

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