what is quasi contract easy meaning and example? and what is contingent contract easy meaning and example?
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Answer:
What Is a Quasi Contract?
A quasi contract is a retroactive arrangement between two parties who have no previous obligations to one another. It is created by a judge to correct a circumstance in which one party acquires something at the expense of the other.
The contract aims to prevent one party from unfairly benefiting from the situation at the other party's expense. 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.
Understanding Quasi Contracts
Quasi contracts outline the obligation of one party to another when the latter is in possession of the original party's property. These parties may not necessarily have had a prior agreement with one another.
The agreement is imposed by law through a judge as a remedy when Person A owes something to Person B because they come into possession of Person A's property indirectly or by mistake. The contract becomes enforceable if Person B decides to keep the item in question without paying for it.