Which of the Following Is True About Contracts That Have

question 72

Multiple Choice

Which of the following is true about contracts that have been subsequently modified?

• A) Parol evidence contradictory to the final terms is admissible.
• B) Parol evidence regarding a contract's subsequent modification is inadmissible.
• C) If the agreement is required to be in writing because it is within the statute of frauds, oral modifications are unenforceable.
• D) Oral evidence of a subsequent written agreement is inadmissible.
• E) If the contract's terms require that modification be in writing, oral modifications are admissible.

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Definitions:

Financially Unsound Contract

A contract deemed as high-risk due to the financial instability or inability of one or more parties to fulfill their obligations.

Relieved from Performance

A legal condition where a party is released from fulfilling their obligations under a contract due to unforeseen circumstances.

Perfect Tender Rule

The perfect tender rule is a principle in sales law that allows a buyer to reject goods delivered by a seller if they do not meet all contract specifications.

Substantial Deviations

Major divergences or departures from a set path, standard, or expected norm.