Lat.: as it were, so to speak; about; almost, like.
QUASI CONTRACT
one that, unlike a true contract, is not based on the apparent intention of the parties to undertake the performances in question, but is an obligation created by law for reasons of justice and fairness. The doctrine of quasi contract is based upon the principle that a party must pay for a benefit he or she desired and received under circumstances that render it inequitable for him or her to retain it without making compensation.
see quantum meruit; unjust enrichment
EXAMPLE:
A car owner brings his car in for brake repairs. The mechanic fixes the brakes and in doing so he also fixes a separate part of the axle that has a direct relationship to the car’s ability to brake correctly. Although the axle repair was not specifically contracted for, a quasi contract is implied for which the owner must pay the mechanic.
describes a proceeding that, though not actually a criminal prosecution, is sufficiently similar in terms of the substantial sanction (civil fine, loss of employment, loss of license, suspension from school, etc.) or the stigma attached to warrant some of the special procedural safeguards of a criminal proceeding.
see also due process.
QUASI IN REM
describes proceedings that are not purely in rem but that are brought against the defendant personally, although the real object is to deal with particular property; refers to actions for money damages begun by attachment, garnishment or other seizure of property, where the court has no jurisdiction over the defendant but has jurisdiction over a thing belonging to the defendant or over a person who is indebted or under a duty to the defendant.
Congratulations! You're now Froogled Up™ on what "Quasi" means!
Feel free to use it throughout your financial/insurance life.
