Quasi Contract Implied in Law
2022-08-26
A quasi contract is often known as an implied-in-law contract. This type of contract is based on the concept of equity rather than the agreement between the parties involved.
When a quasi contract occurs, one party provides a benefit to another party without the promise of compensation. However, the law implies a contract and the party who received the benefit is obligated to make a payment.
This type of contract is typically used in situations where one party provides a service or goods to another party and there is no clear agreement as to the payment. It is also used when one party benefits from the actions of another party.
One example of a quasi contract would be if a person is walking by a property and sees that there is a fire. The person goes into the property and extinguishes the fire, saving the property from destruction. While the property owner did not ask the person to put out the fire, the law implies a contract and the property owner is obligated to pay for the service provided.
Another example of a quasi contract would be if a person hires a contractor to build a deck. The two parties agree on the price for the deck, but the contractor over-delivers and adds additional features to the deck without any additional cost. In this situation, the law implies a contract and the homeowner is obligated to pay for the additional services provided.
Quasi contracts are often used in situations where there is no clear agreement between the parties involved. This type of contract is designed to ensure that the party who benefited from the actions of another is obligated to pay for the services provided.
In conclusion, a quasi contract is an implied-in-law contract that is based on the concept of equity rather than an agreement between the parties involved. This type of contract is typically used when one party provides a benefit to another party without the promise of compensation. While it is not a traditional contract, the law implies a contract and the party who benefited from the services is obligated to make a payment.