Which of the Following Is True About the Exception to the Parol

question 36

Multiple Choice

Which of the following is true about the exception to the parol evidence rule?

• A)A party can always introduce proof of an oral agreement made after the writing was created,these subsequent oral modifications of contracts will always be enforceable.
• B)A party can introduce oral testimony about the facts and circumstances surrounding the agreement without contradicting its terms.
• C)A party can always introduce proof of an oral agreement made before the writing was created,these oral agreements will always be enforceable.
• D)If the terms of the writing are unclear,oral testimony can be introduced to aid the court in interpreting the writing.

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Definitions:

Costs

The value of financial resources consumed in the production of goods or services, including material, labor, and overhead expenses.

Net Income

This is the total profit of a company after all expenses, including taxes and interest, have been deducted from total revenue.

Interest Expense

The cost incurred by an entity for borrowed funds, typically expressed as an annual percentage rate on loans or bonds.

Depreciation

The accounting process of allocating the cost of tangible assets over their useful lives, reflecting wear and tear, deterioration, or obsolescence.