Saturday, October 27, 2007

Quasi Contract

Farmer leased land for 2 harvests. at the end of the 2nd harvest the farmer prepared land for next years planting. At the end of he prep work, farmer and bank could not agree on terms of the following years lease & farmer leaves the land. The bank is obligated to pay the farmer for the prep-work he completed because they had a quasi contract.

-typically unilateral

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