Kramer and Biff Entered into a Formal Purchase and Sale

question 21

Multiple Choice

Kramer and Biff entered into a formal purchase and sale agreement with respect to Kramer's house.Two weeks later,Biff revisited Kramer and offered to purchase all of Kramer's custom yard and deck furniture too.The price Biff offered was $2500 more than the last offer Kramer had received,and he accepted the offer.In these circumstances,if a dispute ensues,will the parol evidence rule play a role?

• A) It will be used to prevent extrinsic evidence regarding the oral agreement.
• B) It will not play a role; because the oral agreement deals with land and furniture,it is invalid.
• C) It will be applied to prevent a challenge of the written agreement.
• D) It will not play a role,owing to the distinct nature of the collateral contract and price.

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Definitions:

Sample Proportion

The fraction of the sample that represents a particular category or characteristic, often used to estimate the proportion in the larger population.

Point Estimate

A single value or statistic used to estimate an unknown population parameter based on sample data.

Population Mean

The mean value of every number within a given population.

Population Proportion

The fraction or percentage of a population that displays a particular attribute or characteristic.