Contracts
The parol evidence rule in West Virginia contract law provides that:
AOral evidence is always admissible to explain written contracts
BPrior oral or written negotiations that are not included in the final written contract generally cannot be used to vary or contradict the contract terms✓ Correct
CAll contracts must be in writing to be enforceable
DWitnesses to a contract signing must be notarized
Explanation
The parol evidence rule provides that a fully integrated written contract cannot be contradicted or varied by prior or contemporaneous oral or written evidence. The written contract is presumed to represent the final and complete agreement.
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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.
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