Video: Quasi-Contract: Definition & Examples. A quasi-contract exists in the absence of a written contract and may be court ordered to avoid one party gaining at the expense of another party's actions. Business 103: Introductory Business Law / Business Courses.
The Panic of 1837 was partly caused by the economic policies of President Jackson, who created the Specie Circular by executive order and refused to renew the charter of Second Bank of the United States.
The government began to increase interest rates, in 1929, from 3.5% to 5%. Some believe this is what caused the recession to come about in August of 1929. The government failed to act to stabilize or increase the money supply during The Great Depression. In fact, the supply of money fell by 30% between 1929 and 1933.