What does quasi mean in business?
A quasi-corporation is an entity that exercises some of the functions of a corporation, but has not been granted separate legal personality by statute. For example, a public corporation with limited authority and powers such as a county or school district is a quasi-corporation.
What is meant by quasi contract?
An obligation imposed by law to prevent unjust enrichment. Also called a contract implied in law or a constructive contract, a quasi contract may be presumed by a court in the absence of a true contract, but not where a contract—either express or implied in fact—covering the same subject matter already exists.
What is quasi contract in simple words?
What Is a Quasi Contract in Law? A quasi contract is an after-the-fact contract between two parties who were otherwise not in a legal commitment to one another. This kind of contract is mandated by a judge seeking to address a situation where one party benefited from something at the expense of the other.
How do you use quasi?
Use quasi when you want to say something is almost but not quite what it describes. A quasi mathematician can add and subtract adequately, but has trouble figuring out fractions. The adjective quasi is often hyphenated with the word it resembles.
Where does quasi come from?
quasi- comes from Latin, where it has the meaning “as if, as though. ” It is attached to adjectives and nouns and means “having some of the features but not all; resembling; almost the same as:”quasi-scientific, quasiparticle, quasi-stellar.
What is a quasi organization?
Quasi-Governmental Organizations (QGOs) are organizations that have both public and private characteristics, not fitting neatly into either category.
What is a quasi public?
In general, “quasi-public” entities are publicly chartered bodies that provide a public service and are overseen by an appointed board, commission, or committee. Typically, these entities do not rely on the State’s General Fund to operate.
What is quasiregularity?
Intuitively, quasiregularity captures what it means for an element of a ring to be “bad”; that is, have undesirable properties. Although a “bad element” is necessarily quasiregular, quasiregular elements need not be “bad”, in a rather vague sense. In this article, we primarily concern ourselves with the notion of quasiregularity for unital rings.
What does quasi mean in law?
Definition of quasi (Entry 1 of 2) 1 : having some resemblance usually by possession of certain attributes a quasi corporation 2 : having a legal status only by operation or construction of law and without reference to intent a quasi contract
What is a quasi-contract?
In the legal sense, the term denotes that one subject has certain characteristics in common with another subject but that intrinsic and material differences exist between them. A Quasi Contract is an obligation invoked by law in the absence of an agreement.
What is a quasi-legislative contract?
A Quasi Contract is an obligation invoked by law in the absence of an agreement. Its purpose is to create a legal duty where, in fact, no promise or agreement was entered into by the parties. When an Administrative Agency makes rules and regulations, it is acting in a quasi-legislative capacity. West’s Encyclopedia of American Law, edition 2.