What Is a Purpose of the Parol Evidence Rule

question 25

Multiple Choice

What is a purpose of the parol evidence rule?

• A) To restrict oral evidence from being admitted that supports an agreement in its written form.
• B) To restrict written evidence from being admitted that supports an agreement in its written form.
• C) To restrict oral and written evidence from being admitted that supports an agreement in its written form.
• D) To restrict hearsay from being admitted that supports or contradicts an agreement in its written form.
• E) To restrict evidence from being admitted that substantially contradicts an agreement in its written form.

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Definitions:

Federal Reserve System

The central banking system of the United States, responsible for setting monetary policy and regulating banks.

Interest Rates

The amount charged by lenders as a percentage of the principal borrowed, influencing economic activity and financial decisions.

Lending Activities

Financial transactions involving the provision of funds with the expectation of future repayment, often with interest.

Fiscal Policy

Government policies concerning taxation, government spending, and borrowing to influence the economy.