Law: Quasi Contracts (Research Paper Sample)

Quasi Contracts
Name of Student
Institution Affiliation
Quasi Contracts
Quasi-contracts are created by judges to correct different circumstances in which one party acquires something at the expense of another party. It aims to cushion and prevent one party from unfairly benefitting from the situation at the other party's expense. These contracts are based on the principles of equity, justice, and good conscience. The reason behind it being no man should grow rich at the expense of another man's losses. This contract is not regarded as a true contract, hence mutual consent is not obligatory, and the court can impose an obligation without considering the intent of the parties. Such can be seen when a party, for instance, sues for damages under the contract. Recovery and restitution are the typical remedies under the theory of quantum merit.
Courts of equity are courts that approved to apply principles of equity to cases brought before it as opposed to the courts of law ("Court of Equity", n.d.). The bankruptcy courts under certain jurisdictions operate as courts of equality. There are distinctions between equality and law and between equality courts and the courts of law. Each has its own defined functions. Whereas a court of law follows the written rules, a court of equity is flexible in its operations, with the judges being allowed to choose what is fair and equal for both sides.
Quasi-contracts are rooted in the concept of equity; hence related cases should be handled by the courts of equity (Woodward, 1997). The co