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Bills And Notes, Paul J. Hartman

Vanderbilt Law Review

The Parol Evidence Rule as Applied to Bills and Notes. The Tennessee Supreme Court case of Lazarov v. Klyce' presented the problem of when an agent who has signed a negotiable instrument can use parol evidence to exonerate himself from personal liability on the instrumentat the suit of the payee. The payee of a note sued the defendant, Arnold Klyce, to hold him individually liable on the note of a corporation of which defendant was an officer. The defense was that the note was an obligation of the corporation, that defendant signed as an officer of the corporation and that …