Question

Parol evidence: refers to supplementary evidence or conditions that a party wants to add to an existing written contract. states that any spoken or written words that are in conflict with what the written contract states should be introduced as evidence in a court of law. specifies that certain kinds of agreements must be in writing to be enforceable. does not prohibit a person from legally entering into oral contracts for certain kinds of agreements.

Answer 1

Answer:

refers to supplementary evidence or conditions that a party wants to add to an existing written contract.

Explanation:

A contract can be defined as an agreement between two or more parties (group of people) which gives rise to a mutual legal obligation or enforceable by law.

There are different types of contract in business and these includes: fixed-price contract, cost-plus contract, bilateral contract, implies contract, unilateral contract, adhesion contract, unconscionable contract, option contract, express contract, executory contract, etc.

Mutual assent is a legal term which represents an agreement by both parties to a contract. When two parties to a contract both have an understanding of the parameters, terms and conditions surrounding a contract, it ultimately implies that they are in agreement; this is generally referred to as mutual assent.

In Contract law, a parol evidence refers to supplementary evidence or conditions that a party wants to add to an existing written contract.