Asked by Chris Davis on Jun 09, 2024
Verified
Where a contractual term has more than one possible meaning, it will be interpreted in favor of the party who supplied the contract.
Contractual Term
A contractual term is a provision or condition that forms part of a contract, outlining the rights and obligations of each party involved.
More than One Possible Meaning
A phrase denoting ambiguity, where a word, phrase, or situation can be understood in more than one way.
- Differentiate among the varying regulations pertaining to the interpretation and precedence of contract provisions.
Verified Answer
SR
Sophia RomeroJun 13, 2024
Final Answer :
False
Explanation :
When a contractual term has more than one possible meaning, it is typically interpreted against the interests of the party who drafted it, a principle known as "contra proferentem."
Learning Objectives
- Differentiate among the varying regulations pertaining to the interpretation and precedence of contract provisions.