Agreement by Law Definition: Understanding the Legalities of Agreements
In general, an agreement is a mutual understanding reached by two or more parties, often expressed in a written or oral contract. However, sometimes an agreement is not a choice, but rather a legal obligation under certain circumstances, and this is known as agreement by law.
Agreement by law definition refers to agreements that are not voluntary, but rather imposed by the law. This type of agreement is usually enforced by the court, and failure to abide by it can lead to legal consequences. In this article, we will delve deeper into the concept of agreement by law and its legal implications.
Understanding Agreement by Law
Agreement by law is also known as implied agreement or quasi contract. It is an agreement that is imposed by the law to prevent unjust enrichment or benefit. It is not based on the mutual consent of the parties, but rather on the circumstances or actions of the parties.
For instance, if you find someone else`s lost property and return it to the rightful owner, the law implies an agreement that the owner will reimburse you for any expenses you incurred while returning the property. This type of agreement is known as a quasi contract.
Agreement by law can also be found in situations where one party performs services or provides goods to another party without an express agreement. In such cases, the law implies an agreement that the person providing the service or goods should be paid for their work or goods.
Legal Effect of Agreement by Law
Agreement by law has the same legal effect as a written or verbal contract. It creates a legal obligation that must be fulfilled by the parties involved. Failure to fulfill the obligation can lead to legal consequences, such as a lawsuit or legal penalty.
The main difference between an agreement by law and a voluntary agreement is that the former is imposed on the parties involved, while the latter is based on mutual consent. Voluntary agreements are based on the principle of freedom of contract, which allows parties to enter into agreements as they see fit. Agreement by law, on the other hand, is based on the principle of fairness and equity.
In conclusion, agreement by law is an essential concept in contract law. It refers to agreements that are not voluntary but are imposed by the law. The purpose of agreement by law is to prevent unjust enrichment and ensure fairness and equity. It is important to understand the legal implications of agreement by law, as it can have significant consequences for those involved. If you have any questions about agreement by law or contract law in general, it is always best to consult with a qualified legal professional.