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The contract which are based on principle of equity, justice and good conscience are _______.
  • a)
    Contingent Contract
  • b)
    Quasi Contract
  • c)
    Anticipatory Contract.
  • d)
    Wagering Contract.
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
The contract which are based on principle of equity, justice and good ...
The correct answer is option 'B', Quasi Contract.

Explanation:
- A quasi contract is a legal concept that is applied by the court in order to prevent unjust enrichment.
- It is not a true contract as it lacks the mutual consent of the parties involved. Instead, it is an implied contract that is imposed by the court in order to prevent unjust enrichment.
- Quasi contracts are based on the principles of equity, justice, and good conscience.
- These contracts are created by the court when there is no express contract between the parties involved, but one party has received a benefit at the expense of the other party.
- The court steps in to create a quasi contract in order to ensure fairness and prevent one party from being unjustly enriched at the expense of the other party.
- Quasi contracts are also known as contracts implied in law.
- The main objective of a quasi contract is to prevent unjust enrichment and to restore the parties to their original position before the benefit was received.
- The court will calculate the value of the benefit received by one party and require that party to compensate the other party for the value of the benefit.
- Quasi contracts are not based on the intention of the parties, but rather on the principles of equity and fairness.
- They are a way for the court to provide a remedy when there is no express contract between the parties but one party has received a benefit at the expense of the other party.
- Quasi contracts are a common law concept and are recognized in many jurisdictions.
- They are an important tool to ensure fairness and prevent unjust enrichment in situations where there is no express contract between the parties.
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Community Answer
The contract which are based on principle of equity, justice and good ...
A quasi contract rest upon the maxims,"No man must grow rich out of another person loss".
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The contract which are based on principle of equity, justice and good conscience are _______.a)Contingent Contractb)Quasi Contractc)Anticipatory Contract.d)Wagering Contract.Correct answer is option 'B'. Can you explain this answer?
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