Parol Evidence Refers to Anything (Other Than the Written Contract

question 30

True/False

Parol evidence refers to anything (other than the written contract itself)that was said,done,or written before or as the parties signed the contract.

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Definitions:

Sunk Costs

Costs that have already been incurred and cannot be recovered, and therefore should not influence future business decisions.

Opportunity Costs

The cost of the next best alternative that is foregone when a decision is made.

Unitising Costs

The process of breaking down costs into smaller, individual pieces or units to better analyze and manage them.

Quantitative Information

Data or information that can be measured and expressed numerically, facilitating objective analysis and decision-making.