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 new insight or understanding did you gain from this video?

Evaluate responses using AI:

OFF