Of property to be sold or leased or services to be

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of property to be sold or leased or services to be rendered, and (4) the consideration given or promised to the party against whom enforcement is sought. Whether price is an “essential” term depends on the type of contract in question. Ch. 12: Contracts: Defenses to Contract Enforceability - No. 11 Business Law Today: Standard Edition (9th ed.)
THE PAROL EVIDENCE RULE Parol Evidence Rule: A substantive rule of contract law under which a court will not admit evidence of the parties’ prior negotiations, prior oral or written agreements, or contemporaneous oral agreements if that evidence contradicts or varies the terms of a fully integrated, unambiguous written contract. Integration: The extent to which a written contract represents the final and exclusive agreement of the parties. A particular term included in a written contract is integrated if the writing represents the parties’ final agreement on that term. A written contract is fully integrated if it constitutes the parties’ final agreement on all terms relating to the transaction. Ambiguity: A written contract is unambiguous if its terms are not susceptible to more than one reasonable, legal interpretation. Ch. 12: Contracts: Defenses to Contract Enforceability - No. 12 Business Law Today: Standard Edition (9th ed.)
PAROL EVIDENCE RULE: EXCEPTIONS Courts have recognized numerous exceptions to the rule excluding extrinsic evidence proffered to contradict or vary the terms of a fully integrated, unambiguous written contract, including: evidence that the parties orally modified their written agreement; evidence of mistake , fraud , or misrepresentation in the formation of the written contract, or of other grounds on which the party proffering the evidence might avoid the contract; evidence that may resolve an ambiguity or supply a missing term or condition in the written contract; evidence of prior dealing between the parties, usage of trade in the relevant locale or trade, and course of performance under the contract by the parties; evidence of an oral condition precedent to the written contract; and evidence of an obvious or gross clerical error . Ch. 12: Contracts: Defenses to Contract Enforceability - No. 13 Business Law Today: Standard Edition (9th ed.)

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