The parol evidence rule:
A) applies to oral contracts and not written ones.
B) only applies to contracts that are valid over one year.
C) is a potential source of danger for parties who reduce their agreements to written form.
D) states that only the monetary terms of the agreement should be included in writing.

Question

Quizplus · Accepted Answer

The parol evidence rule is a potential source of danger for parties who reduce their agreements to written form, since it can operate to prevent proof of terms that the parties did, in fact, agree to. Parties who put their agreements in writing should make sure that all the terms of their agreement are included in the writing.

The Parol Evidence Rule