Parol Evidence May Not Be Admitted in Court If It

question 30

True/False

Parol evidence may not be admitted in court if it corrects an obvious clerical or typographical error.

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Definitions:

Unanimous Approval

Agreement or consent by all members or parties involved without any dissent.

51% Majority Vote

A decision-making process where more than half (51% or more) of the votes cast by members of a group are in agreement, thereby determining the outcome.

Lockup Agreement

A contract between a target corporation and a white knight, giving the knight an option to buy valuable property should a hostile bidder gain control of the target corporation.

Greenmail Option

A strategy where a company buys back its shares from a potential acquirer at a higher price to prevent a takeover.