Quasi Contract Legal Meaning and Definition

Here is a simplified definition of the legal term Quasi Contract.

Quasi Contract (noun)

A quasi contract refers to a legal agreement that exists between parties even though it's not fully legitimate or formalized. This type of contract is often accepted and followed as if it were a legitimate contract. It is commonly found in informal or casual jobs where the terms of engagement, even without formal paperwork, are mutually understood and honored. A quasi contract is generally created by a court to avoid unjust enrichment of a party in a dispute.