Explain the parol evidence rule
What will be an ideal response?
The parol evidence rules states thatif the parties have a written agreement that isintended to be a complete expression of theiragreement, written or oral evidence of prior or
contemporaneous agreements is not admissible evidence. Many contracts contain a provision stating that "this contract is intended to be a full and complete statement of the
agreement of the parties." This type of clause is referred to as an integration clause.
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Indicate whether the statement is true or false
When firms do not wish to accept the Contracts for the International Sale of Goods, they often opt for arbitration by a recognized arbitration court to settle contract disputes
Indicate whether the statement is true or false.