Tuesday, 27 March 2012

Quasi Contracts & what is Quasi Contracts

Quasi Contracts what is Quasi Contracts what are the types of quasi contract…

Quasi Contracts :- A quasi-contract (or implied-in-law contract) is a fictional contract created by courts for equitable, not contractual purposes.
A quasi-contract is not an actual contract, but is a legal substitute for a contract formed to impose equity between two parties

* Quasi Contract is an obligation resembling that created by a contract.

* It is implied Contract.

* The essentials of formation of contracts are absent.

* There is no agreement at all.

 


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