Final answer:
The parol evidence rule prevents parties from presenting extrinsic evidence to alter a written agreement, but certain exceptions exist. Among the options provided, oral evidence of prior agreement is not an exception to the rule and is usually precluded by it.
Step-by-step explanation:
The parol evidence rule is a principle in contract law that prevents parties from presenting extrinsic evidence that would alter or contradict the terms of a written agreement. However, there are several exceptions to this rule. The exceptions include:
- Oral evidence of fraud - This exception allows for oral evidence if a party can prove that the contract was fraudulent.
- Oral evidence of mistake - If there was a mutual mistake made by both parties, oral evidence can be admitted.
- Oral evidence of subsequent agreement - If the parties agreed to a change after the original contract was signed, this can be evidenced.
Looking at the options provided, the one that is not an exception to the parol evidence rule is:
- Oral evidence of prior agreement - This would typically be precluded by the parol evidence rule, since it pertains to agreements made before the written contract that has not been included within the written document itself.