What is the parol evidence rule?

The parol evidence rule is a rule in contract law that applies in South Carolina. It holds that a written contract fully and accurately representing the parties’ agreement is considered to be the final and complete agreement, superseding any prior oral contracts. As such, any prior oral agreements cannot be used to modify or contradict the terms of the written contract. The principle behind the parol evidence rule is that parties to a written contract should not have to worry about whether prior oral agreements will be used to nullify or alter the written agreement. The parol evidence rule prevents any oral agreements made before the written agreement from being used in court as evidence, even if the written contract does not accurately reflect the terms of the agreement. The parol evidence rule does not apply in certain cases, such as when one party makes a negligent misrepresentation, misrepresents a material fact, or forces the other party to sign a contract against his or her will. Even in these cases, however, the written contract will still generally take precedence over any prior oral agreements. In summary, the parol evidence rule is a rule in contract law in South Carolina that holds that a written contract fully and accurately representing the parties’ agreement is considered to be the final and complete agreement, superseding any prior oral contracts. This rule is meant to protect parties to a written contract from the confusion and uncertainty of prior oral agreements being used to modify or contradict the written contract.

Related FAQs

What is the formalities requirement?
What is an assignment of contract?
What is the difference between a covenant and a contract?
What are the legal remedies for a breach of contract?
What is a contract?
What is an assignment of rights?
What is the effect of a modification of a contract?
What is the parol evidence rule?
What is a declaratory judgment?
What is the effect of a breach of contract?

What is the parol evidence rule?

Related FAQs

Related Blog Posts