Examlex
The marketplace sets the price for wheat, so farmers who are trying to sell their wheat crops do not need a pricing strategy and do just a little advertising when a crop comes in. The wheat is sold in ________ type of competitive market.
Parol Evidence Rule
A legal principle that prevents parties in a contract dispute from presenting evidence of prior or contemporaneous agreements that would contradict the written terms of the contract.
Parol Evidence Rule
A legal principle that prevents parties in a dispute from presenting evidence of prior or contemporaneous agreements that contradict or modify the written terms of a final contract.
UCC 2-301
A provision under the Uniform Commercial Code (UCC) that emphasizes the importance of good faith in the performance or enforcement of contracts covered by the UCC.
Obligor
The party in a contractual agreement who is bound to provide a benefit or payment to another.
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