1. Consequential damages cannot be limited or excluded if there has been a breach of contract. The breaching party must pay them.

True

False

4 points

QUESTION 23

1. The pre-existing duty rule prevents modifications of a contract from being enforceable when those modifications lack consideration.

True

False

4 points

QUESTION 24

1. Contracts for the sale of land do not need to be in writing to be enforceable if there were at least 2 witnesses to the oral agreement.

True

False

4 points

QUESTION 25

1. X purchased an airplane from Y. Y had told X that the plane was in very good condition and had been inspected and was certified to fly. Y did not know when he made those statements that they were false. The plane had not been inspected. X can rescind the contract and sue for damages based on fraud.

True

False