Posted: September 12th, 2017

Applying the parole evidence rule a written contract is the final expression of the party’s agreement and may not be contradicted by oral or written agreements made prior to the writing.

• Applying the parole evidence rule
  a written contract is the final expression of the party’s agreement and may not be contradicted by oral or written agreements made prior to the writing.
  oral agreements may be used to change a final written contract if the final written contract isn’t exactly conforming to the pre-contract agreements.
  written contracts with ambiguous terms are automatically void and cannot be corrected.
  written agreements may be used to change a final written contract if the final written contract isn’t exactly conforming to the pre-contract agreementsLLPs were created to
  Increase the duration of the business entity permitted under LLC statutes.
  Provide limited protections for general partners increasing protections offered by LLCs.
  Ease the costs and filing requirements present with LLCs.
  limit taxation burdens existing in LLCs