A quasi-contract, also known as an implied-in-law contract, is a legal concept that is commonly used to establish liability for monetary obligations in situations where there is no formal contract between parties. This type of contract is based on the principle of fairness and is usually used to prevent one party from unfairly benefiting from the actions of another party.

To understand the concept of a quasi-contract better, let`s take a look at an example:

Suppose you are a homeowner and have hired a contractor to install a new roof on your house. After the work is done, the contractor presents you with a bill that is much higher than what you agreed to pay in your initial contract. You refuse to pay the extra amount, and the contractor takes legal action against you.

In this situation, the contractor would likely try to establish a quasi-contract, arguing that you have unfairly benefited from his work and that it would be unjust for you not to pay the full amount. The court would then examine the situation to determine whether a quasi-contract exists.

If the court finds that a quasi-contract exists, it would then determine the amount of payment owed based on the fair market value of the work done. In our example, this would mean that you would have to pay the contractor a reasonable amount for the work that was done, even if it is more than what was agreed upon in the initial contract.

Another example of a quasi-contract would be if you hired a plumber to fix a leaky faucet, but the plumber inadvertently fixed a more significant issue with your plumbing that you did not notice right away. In this case, the plumber could argue that he is entitled to payment for the additional work he did, even though you did not explicitly agree to pay for it.

In conclusion, a quasi-contract is a legal concept used to establish financial obligations in situations where there is no formal contract. It is based on the principle of fairness and is used to prevent one party from unfairly benefiting from the actions of another party. If you find yourself in a situation where a quasi-contract may be established, it is essential to seek legal advice to ensure that you are treated fairly.