Active TopicsActive Topics  Display List of Forum MembersMemberlist  Search The ForumSearch  HelpHelp
  RegisterRegister  LoginLogin
REG STUDY GROUP
 CPAnet Forum : REG STUDY GROUP
Subject Topic: parol evidence (Topic Closed Topic Closed) Post ReplyPost New Topic
  
Author
Message << Prev Topic | Next Topic >>
la1129
Newbie
Newbie


Joined: 01 Mar 2008
Location: United States
Online Status: Offline
Posts: 25
Posted: 08 Jul 2009 at 05:48 | IP Logged  

Can someone explain in more detail why under the parol evidence rule, a merchant would not have to adhere to oral statements made before a written contract was made if the written contract appears to be a total integration of the entire deal?

I do understood the parol evidence rule, but what is that mean by "adhere"?

Thanks for your help



__________________
REG - "82" - 08/26/09
BEC - "79" - 11/25/08
FAR - "80" - 10/07/08
AUD - "88" - 05/26/09
Back to Top View la1129's Profile Search for other posts by la1129
 
tboott
Newbie
Newbie


Joined: 08 Jul 2009
Location: United States
Online Status: Offline
Posts: 2
Posted: 08 Jul 2009 at 08:55 | IP Logged  

The parole evidence rule is pretty ridiculous but i can tell what you need to know.  I just took REG yesterday.

Beckers verbage is pretty slack but after studying a few time i got most of the jist.  Essentially its a rule that no evidence can be admitted in court, oral or written that are seek to change any part of a contract already in effect (what becker refers to as a condition precedent that would seek to change the terms or prior contemporaneous statements).  As long as you know that and that the only evidence that can be admitted before is evidence that explains abiguity or things that are not clear.  Oral and written statement, conditions subsequent, can be admitted into evidence.  If you know those things, you are good to go.   

Back to Top View tboott's Profile Search for other posts by tboott
 
Nan - Louisiana
Major Contributor
Major Contributor


Joined: 15 May 2009
Online Status: Offline
Posts: 699
Posted: 08 Jul 2009 at 09:53 | IP Logged  

In a nutshell:

The car salesman can tell you anything before you sign the contract for that slightly-used Mercedes (you get a 5,000,000 mile warranty and free car washes every week forever).  You can ask for free rides to the moon as well.  These are considered terms of negotiation, and are NOT binding.  "Not binding" => merchant does not have to "adhere" to them.  "Adhere" definition: to stick, as in Adhesive Tape.

You'd better READ that contract and make sure those "condition precedent/concurrent" represented provisions are actually IN the contract when you sign it.  The signed contract is considered the FINAL agreement which came out of the negotiations.  If free car washes and rides to the moon are not in the final contract, you don't get them.

Now if the free car washes and rides to the moon are agreed upon AFTER the contract is signed ("condition subsequent"), that is entirely different.  Those are treated as an amendment to the already-signed contract, and you CAN seek to enforce those terms.



__________________
FAR - 85 - Nov 08
AUD - 98 - Feb 09
BEC - 88 - Apr 09
REG - 90 - May 09
Do it once, do it right, get it over with
Back to Top View Nan - Louisiana's Profile Search for other posts by Nan - Louisiana
 
la1129
Newbie
Newbie


Joined: 01 Mar 2008
Location: United States
Online Status: Offline
Posts: 25
Posted: 08 Jul 2009 at 14:06 | IP Logged  

Thanks for the greatest reply, now I understood it.


__________________
REG - "82" - 08/26/09
BEC - "79" - 11/25/08
FAR - "80" - 10/07/08
AUD - "88" - 05/26/09
Back to Top View la1129's Profile Search for other posts by la1129
 
Ads1982
Newbie
Newbie


Joined: 09 Jul 2009
Online Status: Offline
Posts: 13
Posted: 09 Jul 2009 at 23:39 | IP Logged  

Here is my two sense:

Terms of a K (contract) set forth in a writing intended as a final expression of the parties cannot be contradicted by evidence of any prior agreement or contemporaneous oral agreement.

However, an exception exists. The terms of the K may by explained or supplemented by consistent addtional terms, course of dealing, usage of the specific trade or business, or course of performance.

I hope this helps and does not add to your confusion.

 

 

Back to Top View Ads1982's Profile Search for other posts by Ads1982
 




Page of 2 Next >>
  Post ReplyPost New Topic
Printable version Printable version

Forum Jump
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot delete your posts in this forum
You cannot edit your posts in this forum
You cannot create polls in this forum
You cannot vote in polls in this forum

Powered by Web Wiz Forums version 7.9
Copyright ©2001-2010 Web Wiz Guide

This page was generated in 0.1250 seconds.

Copyright © 1996-2016 CPAnet/MizWeb Communities All Rights Reserved
Twitter
|Facebook |CPA Exam Club | About | Contact | Newsletter | Advertise & Promote