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Legal Environment of Business

Legal Environment of Business

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Published by rimoniba
this document includes-What do you mean by Quasi contract?, 'Theory of Unjust Enrichment, Theory of “Implied-in-fact” Contract,Restoration of Theory of Unjust Enrichment, law related to infancy and disability, Ratification. This document can help people to answer questions related to the above matters. This document is only useful for those persons who are attending BBA or MBA program.
this document includes-What do you mean by Quasi contract?, 'Theory of Unjust Enrichment, Theory of “Implied-in-fact” Contract,Restoration of Theory of Unjust Enrichment, law related to infancy and disability, Ratification. This document can help people to answer questions related to the above matters. This document is only useful for those persons who are attending BBA or MBA program.

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Published by: rimoniba on Jun 04, 2009
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10/14/2010

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Question-1:
What do you mean by Quasi contract? Is it a contract at all?
Answer:
An agreement enforceable by low is a contract. There are several kinds of contracts, namely - valid contract, void able contract and void agreement, there is another kind of contract names quasi-contract.
Quasi-contract:
Quasi-contracts are contracts which are not created voluntarily, but inwhich the relations among the parties resemble the relations, which are created, virtually by contracts. The court treats Quasi-contracts as real contract and compels payment,which is promised under such contracts. In cases pf Quasi-contract the parties are put inthe same position, as they would have occupied had there been a contract between them.Therefore, the contracts, which exist in law only but not in fact, are called Quasi-contracts. In the Bangladesh contract act, the Quasi-contracts are described as therelations resembling those of contract.Section-68 to 72 of the contract act 1872 describe the cases which are treated as Quasi-contracts,
“If a person incapable of entering in to a contract or any one whom he is legally bound to support is supplied by another person with necessaries suited to hiscondition in life, the person who has furnished such supplies is entitled to bereimbursed form the property of such incapable person.”-Section 68
“A person who is interested in the payment of money which another is bound bylaw to pay, and who therefore pays it, is entitled to be reimbursed by the other.”-Section 69
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“Where a person law fully dose anything for another person, or delivers anythingto him, not intending to do so gratuitously, and such other person enjoys the benefit there of, the letter is bound to make compensation to the former in respectof or to restore, the thing so done or delivered.- Section 70
“A person who finds goods belonging to another and takes them into his custody,is subject to the same responsibility as a bailee”-Section 71Section-168, 169 of the contract act deals with the rights and obligations of the bailee.
“A person to whom money has been paid or anything delivered by mistake or under coercion must repay or return it”.- Section 72Example- ‘A” and ‘B’ jointly owe Tk. 2000 to ‘C’. ‘A’ alone pays the amount to ‘C’ and‘B’ not knowing this fact, pays Tk. 2000 over again to ‘C’. ‘C’ is bound to repay theamount to ‘B’.After discussing the above sections of the contract act 1872 it can be easily said thatQuasi-contract is a real contract by the court.
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Question-2:
“There are certain relations resembling those created bycontract.”-Discuss.
Answer:
There are many situations in which law as well as justice requires that a certain person be required to conform to an obligation, although he has neither broken ancontract nor committed any tort. For example, a person in whose home certain goodshave been left by mistake is bound to restore them. Such obligations are generallydescribed, for want of a better or more appropriate name, quasi-contractual obligations.
'
Theory of Unjust Enrichment 
The theory on which quasi-contractual obligations are based is not yet final settled. LordMANSFIELD, who is considered to be the real founder of such obligations, explainedthem on the principle that law as well as justice should try to prevent "unjustenrichment", that is, enrichment of one person at the cost of another. His Lordship offeredthis explanation in
Moses
v
Macferlan:
"Jacob issued four promissory notes to Moses and the latter indorsed there to Macferlan,excluding, by a written agreement, his personal liability on the endorsement. Even soMacferlan sued Moses on the endorsement and he was held liable despite the agreement.Moses was thus compelled to discharge liability which he had excluded and, therefore,sued to recover back his money from Macferlan."He was allowed to do so. After stating that such money cannot be recovered where the person to whom it is given can "retain it with a safe conscience". Lord
MANSFIELD
 continued:
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