The Function of a Quasi Contract Is to Impose a Legal

question 62

True/False

The function of a quasi contract is to impose a legal obligation on a party who purposely failed to fulfill an express promise.

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Definitions:

Restrictive Covenants

Clauses in contracts that limit certain actions of the parties involved, often used in employment contracts and loan agreements to protect business interests.

Dividend Policy

A company's strategy or guideline on whether to retain its profits or distribute them to shareholders in the form of dividends, and at what frequency.

Dividend Practice

The policy a company follows in deciding the amount, timing, and manner of dividend distributions to its shareholders.

Corporate Dividend Preference

A feature of preferred stock entitling holders to receive dividends before any dividends can be distributed to common stockholders.