What is the purpose of a quasi contract?

What is the purpose of a quasi contract?

The purpose of the quasi contract is to render a fair outcome in a situation where one party has an advantage over another. The defendant—the party who acquired the property—must pay restitution to the plaintiff who is the wronged party to cover the value of the item.

What is the reasoning behind quasi contract recovery?

Because a quasi contract is not a true contract, mutual assent is not necessary, and a court may impose an obligation without regard to the intent of the parties. When a party sues for damages under a quasi-contract, the remedy is typically restitution or recovery under a theory of quantum meruit.

What is the basis of quasi contractual obligation?

A quasi-contract or implied-in-law contract is a fictional contract recognised by a court. The basis of quasi-contractual liability is unjust enrichment and the liability arises by implications of law, and not out of any agreement as in the case of contract.

What is quasi contract explain the rules with regard to quasi contract?

A Quasi contract is a contract that is created by court’s order in absence of any agreement between the parties. Quasi contract can be defined ‘as an obligation enforced by the law on one party to avoid unjust enrichment of that party’. There is no prior agreement,offer and acceptance in a Quasi contract.

What is a quasi-contract example?

A quasi contract example involves an agreement between at least two parties who had no prior obligation to each other. What’s difficult about these circumstances is that no official agreement has been created between the parties involved. The court steps in to prevent what’s known as unjust enrichment.

What are the basis of quasi-contract?

The foundation of quasi contracts is based on the principles of Equity, Justice and Good Conscience, which requires that nobody shall benefit himself unjustly, at the cost of others. This is known as the Principle of Unjust Enrichment.

What are examples of quasi-contract?

Let’s look at an example of a Quasi contract: Peter and Oliver enter a contract under which Peter agrees to deliver a basket of fruits at Oliver’s residence and Oliver promises to pay Rs 1,500 after consuming all the fruits. However, Peter erroneously delivers a basket of fruits at John’s residence instead of Oliver’s.