Contract Law question...?

11/1/12 1:07 PM	Ignore \| Quote \| Edit \| Warn Admin \| Vote Down \| Vote Up \| Delete Post
diaz 125 Edited: 11/04/12 1:58 AM Member Since: 2/7/12 Posts: 0	oo

11/1/12 8:22 PM	Ignore \| Quote \| Edit \| Warn Admin \| Vote Down \| Vote Up \| Delete Post
Orcus Knows MMA Better Than Goku Member Since: 8/6/08 Posts: 19466	not sure i follow...the contract specifically said that if he found a lower rate, that rate would apply? he then found a lower rate but they are still claiming its 9%? seems pretty open and shut to me.... You have ignored this user.

11/1/12 9:40 PM	Ignore \| Quote \| Edit \| Warn Admin \| Vote Down \| Vote Up \| Delete Post
diaz 125 Member Since: 2/7/12 Posts: 1	Orcus Knows MMA Better Than Goku - not sure i follow...the contract specifically said that if he found a lower rate, that rate would apply? he then found a lower rate but they are still claiming its 9%? seems pretty open and shut to me.... yeah thats what i think too. but im trying to find the legal issues/terms of explaining why. You have ignored this user.

11/2/12 12:00 AM	Ignore \| Quote \| Edit \| Warn Admin \| Vote Down \| Vote Up \| Delete Post
diaz 125 Member Since: 2/7/12 Posts: 2	ignore the original question..what if in the contract there wasnt anything about the letter/finding another rate? parol evidence rule? You have ignored this user.

11/3/12 11:45 AM	Ignore \| Quote \| Edit \| Warn Admin \| Vote Down \| Vote Up \| Delete Post
WikiTheWalrus 13 Edited: 11/05/12 6:48 AM Member Since: 3/12/07 Posts: 7727	I like grits. You have ignored this user.

11/3/12 11:49 AM

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Orcus Knows MMA Better Than Goku

Edited: 11/03/12 11:52 AM
Member Since: 8/6/08
Posts: 19493

evem though i am a contract attorney i dont really recall what the parole evidence rule is...isnt it just if by its terms the contract looks complete u cant introduce extrinsic evidence?

but if the terms of the contract specifically provided for incorporation of outside facts i dont think the parol evidence rule would apply....

and in any event outside facts are incorporated into contracts ALL the time...its common for a contract with an interest rate to set the interest rate at the rate published in the WSJ or by the federal rate etc...

and if they left the % blank, something has to be incorporated or like the above poster said, i dont think the contract would be enforceable

11/5/12 6:48 AM	Ignore \| Quote \| Edit \| Warn Admin \| Vote Down \| Vote Up \| Delete Post
WikiTheWalrus 13 Member Since: 3/12/07 Posts: 7728	Well, if the OP wants to delete his post, I'm going to delete mine. You have ignored this user.

11/12/12 1:07 PM

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turducken

Member Since: 1/7/09
Posts: 11458

Orcus Knows MMA Better Than Goku -
evem though i am a contract attorney i dont really recall what the parole evidence rule is...isnt it just if by its terms the contract looks complete u cant introduce extrinsic evidence?

but if the terms of the contract specifically provided for incorporation of outside facts i dont think the parol evidence rule would apply....

and in any event outside facts are incorporated into contracts ALL the time...its common for a contract with an interest rate to set the interest rate at the rate published in the WSJ or by the federal rate etc...

and if they left the % blank, something has to be incorporated or like the above poster said, i dont think the contract would be enforceable

parol evidence comes up when there is a latent ambiguity. in other words, if the language of the contract is clear on its face, but there is some outside circumstance that creates ambiguity as to the meaning of the contract, then parol evidence can be considered.

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