P

A secondary agreement between a Parent Company and a party to a principal agreement whereby the performance of obligations and/or liabilities of another party (eg the Contractor) arising under the principal agreement are the subject of a Guarantee. (See Performance Guarantee)

A rule of evidence that excludes the use of non-contractual materials (for example, conversations, prior correspondence) in determining the meaning and legal effect of words in a written contract. The rule is relevant to matters being heard in a court of law. There are exceptions to the rule.