AFM231 Lecture Notes - Lecture 6: Parol Evidence Rule, Standard Form Contract, Inequality Of Bargaining Power

• School: University of Waterloo
• Department: Accounting & Financial Management
• Course: AFM231
• Professor: Darren Charters

Document Summary

Terms of a contract and standard form contracts. Negotiated/written terms: what are the contract terms, parol evidence, contractual ambiguity. Example: contract that covers one party that has a food license in the municipality and they are giving the license to another party: will set the parties out first (hot dog stand and john doe) Could have slight identification of each company (example: say. John doe from region of waterloo, incorporated in ontario) This is not critical to have in law but it is helpful: next comes statements which establish the situation (recitals) Explains why they want to enter into the contract. There is no force of law with them, they are just there to provide background of the situation: after the recitals, you will get into the terms of the contract. This is what is required and are usually numbered. Do not need to have heading usually just there to help the readers.