What is the parol evidence rule? Explain
The parol evidence rule states that a complete, written contract may not be modified by oral testimony unless evidence of fraud, accident, or mistake exists. If a written contract appears to be complete, the parol evidence rule will not permit modification by oral testimony or other writing made before or at the time of executing the agreement. However, an exception is made when the contract refers to other writings and indicates they are considered as incorporated into the contract.
The parol evidence rule assumes that a written contract represents the complete agreement. If, however, the contract is not complete, the courts will admit parol evidence to clear up ambiguity or to show the existence of trade customs that are to be regarded as forming part of the contract. If the contract is ambiguous and there is no oral evidence that can clear up the ambiguity, the contract is construed against the party who wrote it.
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A) update B) must update C) must update his portfolio before his interview on Friday D) update his portfolio
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Indicate whether the statement is true or false
Which of the following is a human resource issue that firms have to balance because of globalization?
A. Training foreign managers abroad B. Gauging the knowledge and skill base of workers C. Figuring out how to best hire and train workers D. All of these are correct.
Which of the following statements about risk-bearing financial institutions is not correct?
A) They are a good example of creating self-insurance by the customers of these institutions. B) They allow its customers to transfer their financial risks to the institution for a fee. C) They capitalize on their size to mitigate risks. D) They finance the cost of any losses by the fees they get from their customers.