COMM 393 Chapter Notes -Parol Evidence Rule, Condition Precedent, General Tire
Document Summary
General tire supplied goods on credit to a principal debtor" in exchange for the promise to repay. In the written k, aylwards ltd. , a company that shares a president & majority shareholder with the principal debtor" unconditionally guarantees payment to general tire of the debtor"s amount. The principal refuses to pay & general tire sues aylwards. A says they are not liable based on oral representations made to them by gt before k was signed. Aylwards is liable to follow through with the written k. Also, there as no condition precedent and no new consideration to be considered a collateral k. Legal principles: parol evidence rule: parol evidence rule: applies when, the parties have a clear, unambiguous written k, later one party alleges there were further oral or written terms (parol evidence)
