A Quasi-Contract Is Imposed Where One Person Confers a Benefit

question 95

True/False

A quasi-contract is imposed where one person confers a benefit on another person who retains the benefit,and it would be unjust not to require the recipient to pay for the benefit received.

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Definitions:

Binding Constraint

A restriction or limitation that significantly impacts decision-making or the feasibility of certain actions within an economic model or real-world scenario.

Binding Price Ceiling

A government-imposed limit on the price of a good or service that is set below the market equilibrium price, leading to shortages.

Buyers

Buyers are individuals or entities that purchase goods and services for personal use, resale, or production.

Rent Control

Government policies or laws that limit the amount landlords can charge for leasing property to keep housing affordable for renters.