BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Disaffirmance is the right for one party to renounce a contract. The person must indicate that they will not be bound by the terms outlined in the agreement expressly or implicitly. People who can prove they lacked the capacity to enter a legally binding contract and minors can disaffirm a contract.

Detailed explanation-2: -(3) Constructive or Quasi Contract: It is a contract in which there is no intention on either side to make a contract, but the law imposes a contract. In such a contract right and obligations arise not by any agreement between the parties but by operations of law.

Detailed explanation-3: -A “contingent contract” is a contract to do or not to do something, if some event, collateral to such contract, does or does not happen.

Detailed explanation-4: -Quasi contract is another name for a contract implied in law, which acts as a remedy for a dispute between two parties that don’t have a contract. A quasi contract is a legal obligation-not a traditional contract-which is decided by a judge for one party to compensate the other.