Alea; civil law

ALEA; civil law. The chance of gain or loss in a contract. This chanceresults either from the uncertainty of the thing sold, as the effects of asuccession; or from the uncertainty of the price, as when a thing is soldfor an annuity, which is to be greater or less on the happening of a futureevent; or it sometimes arises in consequence of the uncertainty of both. 2Duv. Dr. Civ. Fr. n. 74.