A quasi-contract is a fictional contract recognised by a court. The notion of a quasi-contract can be traced to Roman law and is still a concept used in some modern legal systems.

A quasi contract is an agreement between two parties without previous obligations to one another that has been created and legally recognized by the court system. under a quasi-contract, neither involved party is expected to create such an agreement; this contract is arranged and imposed by a judge to correct a circumstance in which one party acquires something at the expense of the other party.

Under common law jurisdictions, quasi contracts can be followed back to the Middle Ages under a form of action known as indebitatus assumpsit. This law saw that the plaintiff in a case received a sum of money from the defendant, as dictated by the courts, as if the defendant had agreed to pay the plaintiff. Indebitatus assumpsit was the courts' way to make one party pay the other as if a contract or agreement already existed between the two parties – the defendant’s promise or agreement to be bound by the contract requiring reparations was implied by law. At the very beginning of the quasi contract's use, it was typically imposed in order to enforce restitution obligations.

Certain aspects must be in place for a judge to issue a quasi contract. One party – the plaintiff – must have given a tangible item or a service to another party – the defendant – with an expectation/implication that payment would be given. The defendant must have accepted or acknowledged receipt of the valuable thing but did not make any effort or offer to pay. Then, the plaintiff must express why it would be unjust for the defendant to receive the thing of value without paying for it, so the defendant received unjust enrichment.

pubsonline.informs.org [PDF]

… Many contracts of current interest fall into this category … Under the Black Scho- les assumptions there is a simple expression for the value of this contract. The detailed formula is given in Boyle (1993) … 42, No. 6, June 1996 Page 8. ]OY, BOYLE, AND TAN Quasi-Monte Carlo …

www.tandfonline.com [PDF]

… Many contracts of current interest fall into this category … Under the Black Scho- les assumptions there is a simple expression for the value of this contract. The detailed formula is given in Boyle (1993) … 42, No. 6, June 1996 Page 8. ]OY, BOYLE, AND TAN Quasi-Monte Carlo …

www.tandfonline.com [PDF]

… Many contracts of current interest fall into this category … Under the Black Scho- les assumptions there is a simple expression for the value of this contract. The detailed formula is given in Boyle (1993) … 42, No. 6, June 1996 Page 8. ]OY, BOYLE, AND TAN Quasi-Monte Carlo …

www.tandfonline.com [PDF]

… Many contracts of current interest fall into this category … Under the Black Scho- les assumptions there is a simple expression for the value of this contract. The detailed formula is given in Boyle (1993) … 42, No. 6, June 1996 Page 8. ]OY, BOYLE, AND TAN Quasi-Monte Carlo …

heinonline.org [PDF]

… Many contracts of current interest fall into this category … Under the Black Scho- les assumptions there is a simple expression for the value of this contract. The detailed formula is given in Boyle (1993) … 42, No. 6, June 1996 Page 8. ]OY, BOYLE, AND TAN Quasi-Monte Carlo …

en.cnki.com.cn [PDF]

… Many contracts of current interest fall into this category … Under the Black Scho- les assumptions there is a simple expression for the value of this contract. The detailed formula is given in Boyle (1993) … 42, No. 6, June 1996 Page 8. ]OY, BOYLE, AND TAN Quasi-Monte Carlo …

link.springer.com [PDF]

… Many contracts of current interest fall into this category … Under the Black Scho- les assumptions there is a simple expression for the value of this contract. The detailed formula is given in Boyle (1993) … 42, No. 6, June 1996 Page 8. ]OY, BOYLE, AND TAN Quasi-Monte Carlo …

www.sciencedirect.com [PDF]

… Many contracts of current interest fall into this category … Under the Black Scho- les assumptions there is a simple expression for the value of this contract. The detailed formula is given in Boyle (1993) … 42, No. 6, June 1996 Page 8. ]OY, BOYLE, AND TAN Quasi-Monte Carlo …

www.tandfonline.com [PDF]

… Many contracts of current interest fall into this category … Under the Black Scho- les assumptions there is a simple expression for the value of this contract. The detailed formula is given in Boyle (1993) … 42, No. 6, June 1996 Page 8. ]OY, BOYLE, AND TAN Quasi-Monte Carlo …

www.elgaronline.com [PDF]

… Many contracts of current interest fall into this category … Under the Black Scho- les assumptions there is a simple expression for the value of this contract. The detailed formula is given in Boyle (1993) … 42, No. 6, June 1996 Page 8. ]OY, BOYLE, AND TAN Quasi-Monte Carlo …

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