Asked by Nargiza Tashmuradova on Jul 03, 2024

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The parol evidence rule applies only to integrated contracts, meaning those in which the parties have assented to the written agreement as the statement of the complete agreement between them.

Integrated Contracts

An integrated contract is a written agreement that constitutes the final and complete understanding between parties, encompassing all terms and conditions.

Parol Evidence Rule

A legal principle that prevents the parties to a written contract from presenting extrinsic evidence of terms of the agreement that contradict, modify, or vary contractual terms.

Written Agreement

A formalized contract between parties that is expressed in written form and signed to evidence the agreement.

  • Gain an understanding of how the parol evidence rule operates and is applied in disputes over contracts.
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ZK
Zybrea KnightJul 07, 2024
Final Answer :
True
Explanation :
The statement is correct. The parol evidence rule only applies to integrated contracts where the parties have agreed that the written contract is the complete agreement between them.