BLAW 3201 Chapter : Chapter 15
Document Summary
{the parol evidence rule is an exclusionary rule of evidence. {the parol evidence rule only applies to written contracts. {the parol evidence rule would allow evidence to be introduced to explain what th e parties meant by the term "serrated. {the parol evidence rule prohibits introduction of all evidence that would result in modifying written contracts. {the statute of frauds has to do with fraud in the inducement of a contract. {most types of contracts are valid without being written. {the statute of frauds generally requires that both parties sign the writing. plain \f0. {a collateral promise is an undertaking to be primarily liable for the principal debtor"s debt. {jim promises to marry cynda if cynda will buy him a new ferrari for his birthday. {a usage of trade is a practice or method of dealing, regularly observed and foll owed in a place, vocation, or trade.
