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    Lecture 11. Contingent and Quasi Contract

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    Sukrati Sahu
    A contingent contract is an agreement to do or not do something depending on whether a future uncertain event related to the contract does or does not occur, such as contracts of insurance. Quasi contracts are obligations imposed by law on a person for the benefit of another even without a contract. The types of quasi contracts include claims for necessities supplied to persons unable to contract, recovering money paid for another, obligations for benefits received from non-gratuitous acts, responsibilities of finders of goods, and liability for money paid by mistake or coercion. Rules govern enforcing contingent contracts depending on whether the event was to happen or not happen, or if the event was impossible or based on future conduct.

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    Lecture 11. Contingent and Quasi Contract

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    Sukrati Sahu
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    A contingent contract is an agreement to do or not do something depending on whether a future uncertain event related to the contract does or does not occur, such as contracts of insurance. Quasi contracts are obligations imposed by law on a person for the benefit of another even without a contract. The types of quasi contracts include claims for necessities supplied to persons unable to contract, recovering money paid for another, obligations for benefits received from non-gratuitous acts, responsibilities of finders of goods, and liability for money paid by mistake or coercion. Rules govern enforcing contingent contracts depending on whether the event was to happen or not happen, or if the event was impossible or based on future conduct.

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    A contingent contract is an agreement to do or not do something depending on whether a future uncertain event related to the contract does or does not occur, such as contracts of insurance. Quasi contracts are obligations imposed by law on a person for the benefit of another even without a contract. The types of quasi contracts include claims for necessities supplied to persons unable to contract, recovering money paid for another, obligations for benefits received from non-gratuitous acts, responsibilities of finders of goods, and liability for money paid by mistake or coercion. Rules govern enforcing contingent contracts depending on whether the event was to happen or not happen, or if the event was impossible or based on future conduct.

    Copyright:

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    20 views1 page

    Lecture 11. Contingent and Quasi Contract

    Uploaded by

    Sukrati Sahu
    A contingent contract is an agreement to do or not do something depending on whether a future uncertain event related to the contract does or does not occur, such as contracts of insurance. Quasi contracts are obligations imposed by law on a person for the benefit of another even without a contract. The types of quasi contracts include claims for necessities supplied to persons unable to contract, recovering money paid for another, obligations for benefits received from non-gratuitous acts, responsibilities of finders of goods, and liability for money paid by mistake or coercion. Rules govern enforcing contingent contracts depending on whether the event was to happen or not happen, or if the event was impossible or based on future conduct.

    Copyright:

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    Download as PDF, TXT or read online from Scribd
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    Chartered Accountancy CPT Course Lecture 11 Contingent and Quasi Contract

    1
    What is Contingent Contract? Contingent contract is a contract to do or not to do something, if some event collateral to such contract, does or does not happen, for e.g. contracts of insurance

    Session 1, Section B Mercantile Law Quick Revision Notes

    3
    What is Quasi Contract? Cases where obligation is imposed by law upon a person for the benefit of another even in the absence of a contract, are know as quasi contract

    2
    1. 2. 3. 4.

    Rules relating to enforcement Enforcement of contract contingent on an event happening Enforcement of contract contingent on an event nonhappening When shall an event on which contract is contingent be deemed impossible, if it is the future conduct of a living person Agreement contingent on impossible event

    4
    1. 2. 3. 4. 5.

    Types of Quasi Contracts Claim for necessaries supplied to persons incapable of contracting Right to recover money paid for another person Obligation of a person enjoying benefits of non-gratuitous act Responsibility of a finder of goods Liability for money paid or thing delivered by mistake or under coercion

    ICAI

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