Management Notes

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Quasi Contract – Meaning, Types and Examples | Business Law

Quasi Contract

Quasi Contract 

Quasi Contract Meaning

Quasi Contract is a type of contract that deals with the rights or liabilities accruing from relations resembling those created by Contract. It is not a real contract and thus called a consensual contract based on the agreement of the parties. These contracts are based on the principal of Equity and Justice that prevent enrichment of one person at the cost of another. It is created by a judge to correct a circumstance in which one party acquires something at the expense of the other.

These arrangements may be imposed when goods or services are accepted, though not requested, by a party. The acceptance then creates an expectation of payment. There are certain dealings which are not contracts strictly, though the parties act as if there is a contract. The contract Act specifies the various situations which come within what is called quasi contract.

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