1. A quasi contract is one the courts can create if a party has been unjustly enriched. 2. Consequential damages cannot be limited or excluded if there has been a breach of contract. The breaching party must pay them. 3. The pre-existing duty rule prevents modifications of a contract from being enforceable when those modifications lack consideration. 4. 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. 5. 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.

1. A quasi contract is one the courts can create if a party has been unjustly enriched. 2. Consequential damages cannot be limited or excluded if there has been a breach of contract. The breaching party must pay them. 3. The pre-existing duty rule prevents modifications of a contract from being enforceable when those modifications lack consideration. 4. 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. 5. 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.