What are the two primary goals of quasi-contracts?

Study for the Business Senior Exam. Use flashcards and multiple-choice questions with hints and explanations. Prepare confidently!

Quasi-contracts are legal constructs that are created by courts to prevent unjust enrichment to one party at the expense of another. The primary goals of quasi-contracts focus on equity and fairness, rather than the enforcement of traditional contractual agreements.

By preventing unjust enrichment, the legal system ensures that a party who benefits from another's efforts or resources without a legitimate agreement does not retain that benefit unfairly. This principle is fundamental as it maintains fairness in situations where no formal contract exists but where one party would otherwise suffer a loss while the other gains.

Additionally, the concept of quantum meruit allows a party to recover the reasonable value of services provided or benefits conferred. This means that if someone provides a service with the expectation of compensation, and the other party receives that service without a formal agreement, the provider can still seek payment based on the value of the service.

This focus on preventing unjust enrichment and allowing for recovery promotes equitable outcomes in situations that might otherwise result in a party unfairly benefiting without reciprocation. Other options do not align with these core principles, as they either misinterpret the purpose of quasi-contracts or focus on aspects unrelated to justice and equitable remedies.

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