A Quasi-Contract Is the Same as an Oral Contract

question 30

True/False

A quasi-contract is the same as an oral contract.

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Definitions:

Deposits

Funds placed into an account at a financial institution, often earning interest.

Interest

The cost of borrowing money or the payment received for lending money, often expressed as a percentage of the principal.

Savings

Money that is set aside for future use rather than being spent immediately, often with the aim of achieving longer-term financial goals.

Retire

In finance, it often refers to the paying off or buying back of debt or securities, implying the removal of these items from the financial markets.