Question
Legal Studies Question on Laws of Contract
What type of contract is formed between the finder of goods and the actual owner of the goods?
A
No contract is formed
B
A quasi-contract under section 71 of the Indian Contract Act
C
A contingent contract
D
A wagering contract
Answer
A quasi-contract under section 71 of the Indian Contract Act
Explanation
Solution
The correct option is (B): A quasi-contract under section 71 of the Indian Contract Act.