What is Quasi Contract? | Quasi Contract Meaning | Quasi Contract with Example | Indian Contract Act

Описание: 🔴 What Is a Quasi Contract?

Quasi contract is another name for a contract implied in law, which acts as a remedy for a dispute between two parties that don't have a contract. A quasi contract is a legal obligation—not a traditional contract—which is decided by a judge for one party to compensate the other. Thus, a quasi contract is a retroactive judgment 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 by a party even though they might not have been requested. The acceptance then creates an expectation of payment for the providing party.

🔴 Purpose
Quasi contracts outline the obligation of one party to a second when the first receives a benefit or property from the second. A person might knowingly or unknowingly give something of value to another without an agreement being made. It is assumed that a reasonable person would pay for it, give it back, or otherwise compensate the giver upon receiving the item or service.
Quasi contracts are awarded as a remedy to a giver to keep them from being taken advantage of and keep others from being unjustly enriched.

🔴 Legality
Because the agreement is constructed in a court of law, it is legally enforceable, so neither party has to agree to it.
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—the wronged party—to cover the value of the item.

🔴 Requirements
🗣️ Certain aspects must be in place for a judge to issue a quasi contract:
🗣️ One party, the plaintiff, must have experienced a loss as a result of a transfer.
🗣️ The defendant must have or acknowledged receipt of and retained the item of value, but made no effort or offer to pay for it.
🗣️ The plaintiff must then demonstrate through burden of proof why the defendant receive an unjust enrichment.
🗣️ The item or service cannot have been given as a gift.
🗣️ The defendant must have been given a choice to accept or deny the benefit.

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🔴 This video might be useful for students preparing for -
🗣️ 11th Commerce #11thcommerce
🗣️ 12th commerce boards #12thcommerce
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🗣️ CA Foundation #cafoundation
🗣️ UGC NET COMMERCE #ugcnetcommerce
🗣️ LLB #llb
🗣️ UGC NET LAW #ugcnetlaw

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🔴 In this video - #padhakulog
Teacher's Name - CS Payal Popli
Topic - Meaning of Quasi Contract

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