Asked by Meadow Smith on Jul 06, 2024
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In entering into contracts for services,customers might be influenced by statements made by sales representatives.Businesses offering services often use standardized form contracts.Under the parol evidence rule,pre-contract statements made in these circumstances are effectively unenforceable.How can a business effectively and ethically use standardized form contracts and the parol evidence rule?
Parol Evidence Rule
A rule in contract law that prevents parties from presenting extrinsic evidence of prior or contemporaneous agreements to alter or contradict the terms of a written contract.
Standardized Form Contracts
Contracts that are preprinted and contain set terms and conditions for all parties, typically not negotiable.
Pre-Contract Statements
Statements made by parties involved before a contract is finalized, which may influence the agreement or understanding of the contract.
- Comprehend the exclusions and understandings related to the parol evidence principle.
- Comprehend the function of equitable principles such as promissory estoppel in the enforcement of commitments.
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Learning Objectives
- Comprehend the exclusions and understandings related to the parol evidence principle.
- Comprehend the function of equitable principles such as promissory estoppel in the enforcement of commitments.
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