Parol Evidence Rule
Definition of "Parol evidence rule"
Rule that prohibits the introduction into a court of law of any oral or written agreement that contradicts the final written agreement. For example, an insurance contract containing clauses and provisions is in writing, and as such this contract cannot be contradicted or modified by any oral statements or agreements that are inadmissible in a court of law.
Popular Insurance Terms
Section of the "Unfair Trade Practices Code" of most states that declares the use of coercion to be in violation of the state code. ...
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Element of a life insurance policy permitting the policy owner to change a beneficiary as frequently as desired unless the beneficiary has been designated as irrevocable. Here the written ...
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Coverage of an employee group whose members receive a monthly disability income benefit, subject to a maximum amount, if illness or accident prevents a member from performing the normal ...
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