Legal Terms

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Parol.

A legal term which refers to oral statements as distinguished from written statements.

Parol Evidence Rule.

This rule states that a written instrument or contract cannot be modified by an oral agreement. It is based on the concept that written contracts should contain all of the facts and agreements between the parties and, therefore, should not be allowed to be altered orally at some future date.

Personalty.

Personal property, as opposed to real property; anything that can be moved.

Plaintiff.

The party who brings a legal action against another, called the defendent.

Precedent.

In common law, previous cases are used to prove the present case. These cases are called "precedence."

Presumed Negligence.

See Res Ipsa Loquitur.

Prima Facie.

Literally means "at first view." It refers to evidence which is, according to law, sufficient to establish or prove a point, unless successfully rebutted by other evidence.

Privity.

The legal status of being a party to a contract or a third party beneficiary under a contract. Privity is required to maintain a legal action based on contract but not for legal action based on tort. In other words, no one can dispute the terms of a contract other than the parties thereto.

Proximate Cause.

The effective cause of loss or damage. It is an unbroken chain of cause and effect between the occurrence of an insured peril or a negligent act and resulting injury or damage.

Punitive Damages.

Damages awarded over and above compensatory damages to punish a negligent party because of wanton, reckless, or malicious acts or omissions. General Liability policies cover punitive damages when included with compensatory damages in a lump sum, but it is up to the courts to decide whether or not they are to be awarded. Also known as Exemplary Damages.