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:

Net Income

The total earnings of a company after subtracting all expenses, taxes, and costs from its total revenue, representing the company's profit.

DRD

DRD refers to the Dividends Received Deduction, a provision that allows corporations receiving dividends from related entities a deduction to reduce taxable income, aiming to mitigate triple taxation.

Taxable Income

The portion of income that is subject to income tax after all deductions and exemptions are applied.

Publicly-traded Domestic Corporation

A company whose shares are traded on a public stock exchange within the issuing country, subject to regulation and reporting requirements.