Evidence Regarding Certain Oral Terms That Were Discussed Between the Parties

question 59

Multiple Choice

Evidence regarding certain oral terms that were discussed between the parties to a contract that has been reduced to writing

• A)cannot be introduced into court because of the rule of express terms.
• B)cannot be introduced into court because there were no prior dealings between the parties.
• C)cannot be introduced into court because of the parol evidence rule.
• D)cannot be introduced into court because of the rule regarding consideration.
• E)cannot be introduced into court because of the rule of implied terms.

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Definitions:

Long-Term Liabilities

Debts or obligations that are not due for settlement within one year and are often used to finance the purchase of long-term assets.

Indirect Method

A way of calculating cash flows from operating activities in the cash flow statement by adjusting net income for changes in balance sheet accounts.

Cash Receipts

Represents the total cash inflows from transactions, including sales and asset dispositions, during a specific period.

Cash Payments

Financial transactions that involve the transfer of cash to settle a debt or purchase goods and services.