Patent and Latent Ambiguities in a Contract

The video tutorial discusses the parole evidence rule, which excludes prior or contemporaneous communications from influencing contract interpretation. It explains the concept of ambiguities in contracts, distinguishing between patent and latent ambiguities. Patent ambiguities are obvious and may allow extrinsic evidence for interpretation, while latent ambiguities are not apparent and require evidence to demonstrate their existence. The video also notes that courts may not always differentiate between these ambiguities, using extrinsic evidence to clarify terms.

What is the parole evidence rule and how does it relate to contract interpretation?

Explain the difference between patent ambiguity and latent ambiguity in contracts.

What role does the court play in interpreting ambiguous terms in a contract?

How can extrinsic evidence be used in the context of ambiguous contract terms?

Discuss the implications of having different meanings attributed to contract terms by different parties.