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QUASI CONTRACTS Group 9 Abhishek Dwivedi PGPM508_09 Ajit Kumar PGPM508_20 Gautam Pradhan PGPM508_32 Gagan Seth PGPM508_44 Chandra M Verma PGPM508_56
What Are Quasi Contracts ,[object Object],[object Object],[object Object],[object Object]
Illustration ,[object Object],[object Object],[object Object],[object Object],[object Object]
Sections In Law ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Quasi Contract Contract Differences… Contracts results from the will of the parties expressed with a view to create an obligation ,[object Object],[object Object],Contract is an agreement There is no agreement It has certain essential elements Essentials for formation of a contract are absent It is a full fledged contract and is binding It is not a full fledged contract
Section 68 ,[object Object],[object Object],[object Object],[object Object],[object Object],Illustration ,[object Object],[object Object]
Section 69 ,[object Object],[object Object],[object Object],[object Object],[object Object],Illustration A  and B have been fined jointly Rs500 for selling adulterated ghee. A alone pays the amount of fine in good faith, A cannot later claim contribution from B under Section 69. Notice that although B was bound by law to pay and A has paid B’s share in good faith, yet A cannot recover as he himself was bound to make the payment, being jointly liable with B and was not simply interested in making the payment. [A can, however, claim contribution form B under Section 43.]
Section 70 ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Illustration
Section 71 - Responsibility of finder of goods ,[object Object],[object Object],[object Object],[object Object],[object Object],Illustration
Section 71 - Responsibility of finder of goods ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Section 72 - delivered by mistake or coercion ,[object Object],[object Object],[object Object],[object Object],[object Object],Illustration

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Quasi Contracts - Business Law

  • 1. QUASI CONTRACTS Group 9 Abhishek Dwivedi PGPM508_09 Ajit Kumar PGPM508_20 Gautam Pradhan PGPM508_32 Gagan Seth PGPM508_44 Chandra M Verma PGPM508_56
  • 2.
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Editor's Notes

  1. The case of NASH v INMAN (1908) 2 KB 1 March 5 1908 http://www.hinduonnet.com/businessline/2000/06/26/stories/212601ak.htm
  2. Duties of Finder of Goods: He must try to find out “the real owner” of the goods and must not appropriate the property to his own use ( Section 403 IPC ) He must take as much care of the goods as much a man of ordinary prudence would take of his own goods of same bulk, quality and value. (Sec 151 ) Rights of finder of Goods: He is entitled to the possession of the goods till the true owner is found. ( Case : Hollins vs FowlerS) He is entitled to retain this good until he receives the lawful charges or compensation for retaining the goods and for care and preservation thereof. However, he cant sue for such compensation unless a specified reward has been advertised by the owner. He can sell the goods if: The commodity is perishable the owner cannot be found owner refuses to pay the lawful charges Lawful charges amount to 2/3rd of the value of commodity found
  3. Duties of Finder of Goods: He must try to find out “the real owner” of the goods and must not appropriate the property to his own use ( Section 403 IPC ) He must take as much care of the goods as much a man of ordinary prudence would take of his own goods of same bulk, quality and value. (Sec 151 ) Rights of finder of Goods: He is entitled to the possession of the goods till the true owner is found. ( Case : Hollins vs FowlerS) He is entitled to retain this good until he receives the lawful charges or compensation for retaining the goods and for care and preservation thereof. However, he cant sue for such compensation unless a specified reward has been advertised by the owner. He can sell the goods if: The commodity is perishable the owner cannot be found owner refuses to pay the lawful charges Lawful charges amount to 2/3rd of the value of commodity found
  4. Notice that the term mistake as used in Section 72 includes not only a mistake of fact but also a mistake of law. There is no conflict between the provisions of Section 72 on the one hand, and Sections 21 and 22 on the other, and the true principle is that if one party under mistake, whether of fact or law, pays to another party money which is not due by contract or otherwise, that money must be repaid [ Sales Tax Officer, Benares v. Kanhaiyalal Makanlal Saraf, (1959), S.C.J. 53].