Which One of the Following Will Be Excluded by the Parol

question 88

Multiple Choice

Which one of the following will be excluded by the parol evidence rule?

• A) Evidence of a collateral agreement
• B) Express terms
• C) Extrinsic evidence
• D) Evidence of implied terms
• E) A condition precedent

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Definitions:

Common Stock

A type of security that represents ownership in a corporation, with voting rights and potential for dividends.

Par Value

The stated value of a financial security, such as a bond or stock, as declared by the issuer.

Preferred Stock

A type of equity security that has a priority claim on a company's assets and earnings before common stock, usually with fixed dividends and no voting rights.

Paid-In Capital Excess

The amount of equity a company generates that is above the par value of its shares, often arising from the initial sale of its stock.