BTC1110 Study Guide - Midterm Guide: Parol Evidence Rule, Collateral Contract, Dick Bentley
8 Aug 2018
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Express terms = terms that are specifically mentioned within a contract. When a contract appears to be entirely in writing, any evidence of other terms will not be allowed. The exception to the parol evidence rule is if there is evidence of a collateral contract. Where the contract is oral (or partly oral), the party who is bringing the breach to court has the burden of proving what was promised. Identifying a contract"s terms-distinguishing b/w mere puffs, representations & promises: The importance of the distinction is that a statement that constitutes an innocent misrepresentation inducing the contract = no damages. A breach of a contractual term = damages and termination may be available. For a statement to constitute as a term of the contract, the party making the statement must have promised that the statement was true in the sense of making it part of the contractual bargain.
