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Source Parol Evidence Rule Parol Evidence Rule Matched to this deck.

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0 tracked cards Contracts

A buyer and seller signed a written agreement for the sale of a business. At signing, both orally agreed that the writing would become binding only if the buyer's bank approved financing by Friday. The bank rejected financing. The seller sues and argues that evidence of the oral financing condition is barred by the parol evidence rule.
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Evidence of the oral condition is admissible only in sale-of-goods cases. Evidence that the written agreement would become effective only if a stated condition occurred may be admissible to show a condition precedent to effectiveness. Evidence of the oral condition is always barred because it was stated before signing. Evidence of the oral condition is barred unless the condition contradicts every written term.

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