Which One of the Following Will Be Excluded by the Parol

question 172

Multiple Choice

Which one of the following will be excluded by the parol evidence rule?

• A) Express terms
• B) Extrinsic evidence
• C) Evidence of implied terms
• D) A condition precedent
• E) Evidence of a collateral agreement

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Definitions:

Semiannual Compounding

The process of applying interest to a principal sum twice a year, leading to interest being earned on interest.

Periodic Interest Rate

The interest rate applied over a specific time period, crucial for calculating interest in savings and loan scenarios.

Present Value

The value today of a future amount of money or sequence of cash payments, calculated using a designated return rate.

Effective Rate

The actual interest rate an individual pays on a loan or earns on an investment, taking into account the effect of compounding.