What is a key feature of a quasi-contract?

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

A quasi-contract is a legal construct that is imposed by a court to prevent unjust enrichment when no actual contract exists between the parties involved. This means that the essence of a quasi-contract is to ensure fairness and to prevent one party from benefiting at the expense of another, even though there was no explicit agreement to enter into a contract.

The focus on preventing unfair advantage is key here, as quasi-contracts come into play in situations where it would be inequitable for one party to retain a benefit that they did not earn or deserve. For example, if someone receives a benefit unexpectedly—like a service performed on their behalf without a formal agreement—the court may impose a quasi-contract to require them to compensate the provider for the value of that benefit.

This concept stands out notably from explicit contracts, which require mutual consent and specific terms. Quasi-contracts do not necessitate such formalities, which is why they do not depend on written agreements or mutual acceptance in the traditional sense. They are also not always tied to monetary compensation since they can also involve restitution for non-monetary benefits. Thus, the primary purpose of a quasi-contract is to achieve justice and prevent one party from being unjustly enriched, making the focus on averting unfair advantage the

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