Which of the Following Is NOT True

question 87

Multiple Choice

Which of the following is NOT true?

• A)The parol evidence rule does not affect the interpretation of express terms already in a contract.
• B)Implied terms usually result from long-established customs.
• C)When parties deal expressly with a matter in a contract,a court is not precluded from finding an implied term on the same matter.
• D)The parol evidence rule does not exclude evidence of an oral agreement that the parties may each after they have entered into the written agreement.
• E)The courts will admit evidence of an oral understanding about a condition precedent even when the written contract specifies that the rights of the parties are governed exclusively by the written contract.

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Definitions:

Inflation

The rate of elevation in the uniform prices of goods and services, undermining the capability to buy more.

GDP Deflator

An economic metric that converts output measured at current prices into constant-dollar GDP, detaching price changes from real output changes.

Nominal GDP

Gross Domestic Product measured in current market prices, without adjustment for inflation, reflecting the value of all goods and services produced by an economy in a year.

Real GDP

Gross Domestic Product adjusted for inflation, measuring the value of all goods and services produced within a country in real terms.