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.
However, the President won handily, 219 electoral votes to 49 for Clay, 11 for Floyd, and 7 for Wirt. Van Buren would follow Jackson to the presidency four years later, but he would have to deal with Jackson's bank stance, which caused the economic Panic of 1837. Citations Address of the National Republican Convention to the People of the United States, Baton Rouge Gazette, January 21, 1832, 2.