Contingent contracts and quasi contracts are two types of legal agreements that have certain similarities but also significant differences. To better understand these differences, let’s compare them side by side:
| Contingent Contracts | Quasi Contracts |
|---|---|
| Link to the Source | Link to the Source |
| Formation of contracts that depend on the occurrence of a specific event or condition | Imposed by the court to prevent unjust enrichment |
| Contractual obligations are contingent upon a specific event happening | No prior agreement or intention between the parties involved |
| Parties have a mutual understanding and consent | No mutual understanding or consent |
| Enforceable in a court of law | Enforceable based on the principle of unjust enrichment |
As you can see, contingent contracts are formed when parties agree to contractual obligations that are dependent on the occurrence of a specific event or condition. On the other hand, quasi contracts are not formed through mutual agreement but are rather imposed by the court to prevent unjust enrichment.
To learn more about the formation and characteristics of these two types of contracts, you can refer to this Formation Continue Contract Management article.
In conclusion, understanding the difference between contingent contracts and quasi contracts is crucial in legal matters. By knowing the distinctions, individuals can make informed decisions and protect their rights and interests.
Sources:
Difference between Contingent Contract and Quasi Contract in Tabular Form
Formation Continue Contract Management
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