Common Contracts
1 similar null contracts
QUASI-CONTRACTSAugust 9th, 2013
Definition: These are the contracts which are not founded on actual promises. These contracts are created by circumstances, where one person has done something for another or paid money on his behalf, and the other person has enjoyed the benefit of the same. It is a kind of contract by which one party is bound to pay money in consideration of something done or suffered by the other party. Though no contractual relation exists between the parties, law makes out a contract for them and such a contract is called quasi-contract. The basis of quasi-contract is to prevent unjust enrichment or unjust benefit, i:e, no man should grow rich out of another person’s loss.
