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A quasi contract, also known as an implied-in-law contract, is a legal agreement that exists due to the circumstances of the parties involved. Unlike traditional contracts, where the terms are explicitly stated and agreed upon by both parties, quasi contracts arise from the conduct of the parties involved.

Quasi contracts are often used in situations where there is no formal agreement between the parties, but one party has received a benefit from the other. In these cases, the law may imply an obligation on the receiving party to compensate the other party for the benefit received.

For example, let`s say that you hire a contractor to paint your house on the assumption that the contractor was licensed and insured. After the work is completed, you discover that the contractor was not licensed nor insured. Even though there was no formal agreement between you and the contractor regarding their license and insurance, a quasi contract may be implied to compensate you for the cost of fixing the contractor`s mistakes.

Quasi contracts are enforced by the courts to prevent unjust enrichment and to ensure that parties are fairly compensated for the benefits they provide to others. In order for a quasi contract to be enforced, there must be evidence that a benefit was conferred, that the parties did not intend for the benefit to be a gift, and that the receiving party would be unjustly enriched if they did not compensate the other party.

In conclusion, quasi contracts are a type of legal agreement that arise from the circumstances of the parties involved. These agreements are enforced by the courts to ensure that parties are fairly compensated for the benefits they provide to others. As a business owner or individual, it is important to be aware of the implications of quasi contracts and to seek legal advice if you believe that you have been unjustly enriched or are facing a claim for unjust enrichment.