Sections 68 to 72 of the Indian Contract Act deal with quasi-contracts, which are obligations that arise by law rather than by an agreement between parties. Quasi-contracts occur where one party has obtained an unjust benefit at the expense of another, or where money or benefits have been received by mistake or under coercion. There are five types of quasi-contractual obligations covered: (1) supply of necessities to incapable persons, (2) payment by an interested person of a debt another is legally obligated to pay, (3) obligations to pay for non-gratuitous acts, (4) responsibilities of finders of lost goods, and (5) recovery of money paid by mistake or under coercion. Qu
1 CONTRACT
2 OFFER AND ACCEPTANCE
3 CONSIDERATION
4 CAPACITY TO CONTRACT
5 FREE CONSENT
6 LEGALITY OF OBJECT
7 CONTINGENT CONTRACT
8 QUASI CONTRACT
9 PERFORMANCE OF CONTRACT
10 DISCHARGE OF CONTRACT
11 REMEDIES FOR BREACH OF CONTRACT
1 CONTRACT
2 OFFER AND ACCEPTANCE
3 CONSIDERATION
4 CAPACITY TO CONTRACT
5 FREE CONSENT
6 LEGALITY OF OBJECT
7 CONTINGENT CONTRACT
8 QUASI CONTRACT
9 PERFORMANCE OF CONTRACT
10 DISCHARGE OF CONTRACT
11 REMEDIES FOR BREACH OF CONTRACT
A quasi contract is designed to prevent one party from unfairly benefiting at another party's expense, even though no contract exists between them.
There is no offer and acceptance
It is based on morality, equity, good conscience and on the principles of natural justice
Ubi jus, ibi remedium – meaning 'where there is a right, there is a remedy'
ACTIONABLE CLAIMS in Property Law (Unit-1)KHUSHISWAMI2
An actionable claim is defined in the Transfer of Property Act (TPA), which deals with the transfer of properties in India. According to Section 3 of the TPA. This PPT explains the topic in a better way
Cost of Capital,Meaning,Computation of Specific Costs,Cost of Debt,Cost of Preference Shares,Cost of Equity Capital,Cost of Retained Earnings ,Weighted Average Cost of Capital
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
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The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
How to get verified on Coinbase Account?_.docxBuy bitget
t's important to note that buying verified Coinbase accounts is not recommended and may violate Coinbase's terms of service. Instead of searching to "buy verified Coinbase accounts," follow the proper steps to verify your own account to ensure compliance and security.
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
2. Sections 68 to 72 deals with "certain relations resembling those created by contract" under Indian contract
act, 1872. It incorporated those obligations which are known as "quasi contracts" under English law. It
covers cases where the obligation to pay arises neither on the basis of a contract nor a tort, but a person has
obtained an unjust benefit at the cost of another. The quasi-contractual obligations are based on the
principle that law as well as justice should try to prevent unjust enrichment means enrichment of one
person at the cost of another or to prevent a man from retaining the money of, or some benefits derived
from , another which it is against conscience that he should keep.
Thus the principle of unjust enrichment requires:
1st that the defendant has been 'enriched' by the receipt of a benefit :
2nd that this enrichment is at the expense of the plaintiff:
and 3rd that the retention of unjust of the enrichment is unjust
Strictly speaking, a quasi-contract is not a contract at all. A contract is intentionally entered into. A quasi -
contract ,on the other hand , is created by law. In an American case MILLER VS.
SCHLOSS,918N.Y.400,N.E.337, it was observed: "In truth it is not a contract at all. It is an obligation
which the law creates in the absence of any agreement, when the acts of the parties or others have placed
in the possession of one person, money or its equivalent, under such circumstances that in equity and good
conscience he ought not retain it, and which ex aequo et bono (in justice and fairness) belongs to another".
3. Kinds of Quasi Contract
(1) SUPPLY OF NECESSITIES (Sec.68)
If a person, incapable of entering into a contract, or anyone whom he is legally bound to support, is
supplied by another with necessaries suited to his condition in life, the person who has furnished such
supplies is entitled to be reimbursed from the property of such incapable person. Ex. A supplies B, a
lunatic, with necessaries suitable to his condition in life. A is entitled to be reimbursed from B's property.
(2) PAYMENT BY AN INTERSTED PERSON (sec. 69)
A person who is interested in the payment of money which another is bound by law to pay, and who
therefore pays it, is entitled to be reimbursed by the other.
Ex. B holds land in Bengal, on a lease granted by A, the Zamindar. The revenue payable by A to the govt.
being in the arrears, his land is advertised for sale by the govt. under the revenue law the consequences of
such sale will be annulment of B's lease. B to prevent the sale and the consequent annulment of his own
lease, pays to the government the sum due from A. A is bound to make good to B the amount so paid.
4. The conditions of the liability under sec. 69 are: 1. The plaintiff should be interested in making the
payment. It is not necessary that he should have a legal proprietary interest in the property in respect of
which the payment is made. However, often it is used to determine whether plaintiff was interested. Sec.
69 does not invite such judicial limitation that a person who has not an interest in the property can be
interested in a payment of that property. 2. The plaintiff himself should not be bound to pay. He should
only be interested in making the payment in order to protect his own interest. 3. The defendant should be
under legal compulsion to pay. 4. The plaintiff should have made the payment to another parson and not to
himself.
(3) OBLIGATION TO PAY FOR NON-GRATUITOUS ACTS (Sec. 70)
When a person lawfully does anything for another person or delivers anything to him, not intending to
do so gratuitously, and such other person enjoys the benefit thereof, the latter is bound to make
compensation to the former in respect of, or to restore, the things so done or delivered.
Ex. 1. A, a tradesman, leaves goods at B's house by mistake. B treats the goods as his own. He is bound
to pay for them to A.
Ex 2. A saves B's property from fire. A is not entitled to compensation from B, if the circumstances
show that he intended to act gratuitously.
5. Before any right of action under sec. 70 arises, 3 conditions must be satisfied: (1) The thing must have
been done lawfully. (2) the person doing the act should not have intended to do it gratuitously. (3) The
person for whom the act is done must have enjoyed the benefit of the act[union of India vs. Sita ram,
AIR 1977,S.C. 329] EX. A village was irrigated by a tank. The government effected certain repairs to the
tank for its preservation and had no intention to do so gratuitously for the zamindars. The zamindars
enjoyed the benefits thereof. Held, they were liable to contribute
(4) RESPONSIBILITIES OF FINDER OF GOODS (Sec. 71)
A person, who finds goods to another and takes them into his custody, is subject to the same
responsibilities as a bailee. He is bound to take as much care of the goods as a man of ordinary prudence
would, under similar circumstances, take of his own goods of the same bulk, quality and value. If he
does not, he will be guilty of wrongful conversion of the property. Till the owner is found out, the
property in goods will vest in the finder and he can retain the goods as his own against the whole world.
Ex. F picks up a diamond on the floor on k's shop. He hands it over to K to keep it till true owner is
found out. No one appears to claim it for quite some weeks in spite of the wide advertisement in the
newspapers. F claims the diamond from K Who refuses to return. K is bound to return the diamond to F
who is entitled to retain the diamond against the whole world except the true owner.
6. (5) MISTAKE OR COERSION (Sec. 72)
A person to whom money has been paid, or anything delivered, by mistake or under coercion, must repay
or return it to the person who paid it by mistake or under coercion. Ex. (1) A pays some money to B by
mistake. It is really due to C. B must refund the money to A. C, however, cannot recover the amount from
C is no privity of contract between B and C. (2) A railway company refuses to deliver up certain goods to
the consignee, except upon the payment of an illegal charge for carriage. The consignee pays the sum
charged in order to obtain the goods. He is entitled to recovers so much of the charge as is illegally
excessive. Sec. 72 does not draw any distinction between a mistake of fact and mistake of law
Ex.
(1). K paid sales tax on his forward transactions of bullion. Subsequently this tax was declared ultra vires.
Held, K could recover the amount of sales tax and that sec. 72 is wide enough to cover not only mistake of
fact but also mistake of law
(2) An insurance company paid the amount on a policy under the mistake that the goods had been
destroyed by a peril insured against. The goods infact had been sold. Held, the money could be recovered
by the insurance company
(3) An insurance co. paid the amount on a policy which had lapsed by a reason of non- payment of
premiums by the assured. The company knew this fact but it was overlooked at the time of payment. Held,
the company could recover the amount "however careless the party (company paying money) may have
been omitting to use the diligence to inquire into the fact"