A Court Will Admit Parol Evidence About a Missing Term

question 91

Multiple Choice

A court will admit parol evidence about a missing term in relation to any of the following circumstances EXCEPT

• A)the written agreement does not contain the whole agreement.
• B)the written agreement is unambiguous.
• C)the missing term is part of a subsequent oral agreement.
• D)the missing term is part of a collateral agreement.
• E)the missing term is a condition precedent to the written agreement.

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Definitions:

Direct Labor Cost

The total cost of all the labor work directly involved in the production of goods or services.

Work in Process Inventory

Partially completed goods that are still in the production process at the end of a period.

Direct Labor-Hours

The cumulative hours that employees engaged in the creation of products or services dedicate to their work.

Job-Order Costing

An accounting method used to track the costs associated with each unique job or order, suitable for customized or non-repetitive products.