Contracts
The parol evidence rule in contract law provides that:
AVerbal testimony about a contract may always override written terms
BPrior or contemporaneous oral agreements cannot be used to modify or contradict the terms of a fully integrated written contract✓ Correct
COnly written evidence may be presented in any real estate dispute
DVerbal agreements about real estate are always unenforceable
Explanation
The parol evidence rule prevents parties from introducing prior or contemporaneous oral or written statements to contradict or modify the terms of a fully integrated written contract. If the parties intended the written contract to be the complete and final agreement, prior discussions are generally not admissible to change its terms.
Related Illinois Contracts Questions
- Liquidated damages in a real estate contract refer to:
- In Illinois, what is a 'property inspection contingency' and what rights does it give the buyer?
- What is a 'Home Warranty' in an Illinois real estate transaction?
- What is an 'as-is' clause in an Illinois real estate contract?
- What is a 'land contract' (contract for deed) in Illinois and how does it work?
- In Illinois, which of the following is an essential element of a valid real estate contract?
- In Illinois, the attorney review period for a residential real estate contract is typically:
- A lease with an option to purchase allows the tenant to:
Practice More Illinois Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Illinois Quiz →