Final answer:
A quasi-contract is a legal concept where courts impose a duty on a party to prevent unjust enrichment in the absence of a mutual agreement. Requirements include the absence of a real contract, receipt of a benefit by one party, unjust enrichment and lack of legal remedy for the harmed party.
Step-by-step explanation:
Requirements for a Quasi-Contract
The concept of a quasi-contract is used in the field of law, specifically contract law. A quasi-contract is not a true contract, but rather a legal construct that the courts impose to prevent one party from being unjustly enriched at the expense of another. In order to establish a quasi-contract, certain requirements must be met. These include:
- There must be no existing contractual relationship between the parties concerning the subject matter.
- An individual or entity must have received a benefit from the other party.
- This benefit must have been received unjustly or at the expense of the other party.
- There must be an absence of a remedy provided by law to the harmed party.
The injured party can then seek restitution, which is usually measured by the value of the benefit conferred, to prevent the unjust enrichment of the other party. It is worth noting that a quasi-contract is not formed as a result of a mutual agreement, but is imposed by law to maintain fairness and justice between the parties involved.