BU231 Lecture Notes - Garnishment, Intestacy, Asset Freezing
Document Summary
Strict or plain- meaning approach- an approach that restricts interpretation to the ordinary or dictionary meaning of a word. Liberal approach- an approach that looks to the intent of the parties and surrounding circumstances, and tends to minimize, but does not ignore, the importance of the words actually used. Note: exemption clauses- is a clause in a contract that exempts a party from liability. The parol evidence rule does not exclude evidence of an oral agreement that the parties may reach after they have entered into the written agreement. Collateral agreement- a separate agreement between the parties made at the same time as, but not included in, the written document. The written agreement does not contain the whole agreement; The missing term is part of a subsequent oral agreement; The missing term is part of a collateral agreement for which there is separate consideration; or. The missing term is a condition precedent to the written agreement.
