ADMS 2610 Lecture Notes - Parol Evidence Rule, Rescission, Meeting Of The Minds

• School: York University
• Department: Administrative Studies
• Course: ADMS 2610
• Professor: Marcela Porporato

Document Summary

Adms 2610 practice questions (requirements of form and writing, mistake and misrepresentation) A sells steel ball bearings of various diameters and b uses inch diameter ball (a) bearings in the products he manufactures. A and b have been doing business together for the past ten years and b always orders inch ball bearings from a. Yesterday, b placed an order with a for 10,000. 00 inch diameter ball bearings for a price of $ 30,000. 00. Unfortunately, when the order was written up it simply read 10,000 ball bearings. The parol evidence rule would apply to the written contract. The parol evidence rule states that you cannot introduce evidence that can contradict or adds the term in a contract. Further, collateral agreement could be argued: inch ball bearings formed the consideration for the written contract. This gets the term in and b can either enforce the contract or alternatively sue in damages.