Contracts Final Review

Question 1

Parole Evidence Rule

Answer 1

Parties are prohibited from entering extrinsic evidence that occurred prior or contemporaneous with an agree. Such as an oral or written modification of a contract, if the parties intended for the writing to be a full and complete expression of their agreement.

If the integrated agreement is complete parties are barred from showing any evidence which is contradictory or consistent.

how if the agreement is found to be partially integrated they can add consistent terms.

Question 2

complete agreement

Answer 2

a complete agreement includes all of the relevant terms in the contract.

Question 3

Partial Agreement

Answer 3

When there are terms that would naturally not be in the agreement.

Question 4

Four Corners Approach

Answer 4

Traditional rule, allows the judge to only look at 4 corners of the document or face of the document

Question 5

CA Approach

Answer 5

look at the PE to decide parties’ true intentions and level of integration

Question 6

Evidence Ambigious terms

Answer 6

Parties are allowed to admit evidence even when the agreement in complete, if the evidence can explain an ambigious term or if it helps determine the grounds for a remedy or defense

Question 7

Breach

Answer 7

Occurs when performance is due and the party has not fully performed.

Question 8

Performance is due…

Answer 8

when the condition occurs, or if it is an absolute duty not performing under the contract would be a breach.

Question 9

Condition

Answer 9

is an event, not certain to occur, but which must occur before performance to be due.

Question 10

Express condition

Answer 10

are strictly construed