Quasi contract is a legal term for a contract that does not exist in reality, but is imposed by law to avoid unfairness or unjust enrichment. It is also known as an implied-in-law contract or a constructive contract.
A quasi contract is not an actual contract since there is no mutual agreement between the involved parties. Instead, it is a legal mechanism that courts use to prevent one party from taking advantage of another party without compensation. Essentially, it is a way for the court to establish a contractual relationship between two parties, even if no actual contract exists.
The term “quasi” comes from the Latin word “quasi”, meaning “as if”. Therefore, quasi contracts are considered to be “contracts as if” they were actual contracts.
Quasi contracts can arise in many different situations, such as when one party provides a service or good to another party without a prior arrangement, or when one party benefits from another party’s mistake. In such cases, the court may use quasi contracts to ensure that the party who received the service or benefit compensates the other party fairly.
For example, let’s say that you hire a contractor to install a new floor in your home. However, you forget to sign a written contract specifying the price and the timeframe for the work. The contractor completes the job and sends you an invoice for an amount that you consider to be far too high. In this case, the court may imply a quasi contract to ensure that both parties are treated fairly. The court may determine a reasonable price for the work based on industry standards and other factors, and then order you to pay the contractor accordingly.
In conclusion, quasi contracts are legal instruments that courts use to establish a contractual relationship between parties in situations where no actual contract exists. They are intended to prevent one party from taking unfair advantage of another party, and to ensure that both parties are compensated fairly. While quasi contracts may not be as common as traditional contracts, they nevertheless play an important role in the legal system, and are a valuable tool for promoting fairness and justice in a variety of situations.