Contracts
What is the 'parol evidence rule' and how does it affect South Carolina real estate contracts?
AEvidence from criminal parole hearings cannot be used in real estate cases
BPrior oral or written agreements are generally superseded by the final written contract✓ Correct
CAll contracts must be read aloud to be enforceable
DVerbal testimony about contracts is always admissible
Explanation
The parol evidence rule generally prohibits introducing evidence of prior oral or written agreements that contradict, alter, or add to the terms of a fully integrated written contract. The written contract is the final agreement.
People Also Study
Related South Carolina Questions
- In South Carolina, what is the 'parol evidence rule' in contract law?Contracts
- A South Carolina property management agreement is a contract between the:Property Management
- In South Carolina, a listing agreement is a contract between the seller and:Agency
- In South Carolina, a written buyer agency agreement that specifies compensation is preferred because it:Agency
- A South Carolina purchase contract is 'integrated' when:Contracts
- In South Carolina, the listing agreement is a contract between:Agency
- When a South Carolina agent is operating as a dual agent with written consent, they may NOT:Agency
- In South Carolina, an offer to purchase real estate becomes a binding contract when:Contracts
Key Terms to Know
Purchase Agreement
A legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Study This Topic
Practice More South Carolina Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free South Carolina Quiz →