aleatory contract

Thesaurus

Noun

aleatory contract - a contract whose performance by one party depends on the occurrence of an uncertain contingent event (but if it is contingent on the outcome of a wager it is not enforceable)contract - a binding agreement between two or more persons that is enforceable by law

aleatory contract

Related to aleatory contract: contract of adhesion

Aleatory Contract

A mutual agreement between two parties in which the performance of the contractual obligations of one or both parties depends upon a fortuitous event.

The most common type of aleatory contract is an insurance policy in which an insured pays a premium in exchange for an insurance company's promise to pay damages up to the face amount of the policy in the event that one's house is destroyed by fire. The insurance company must perform its obligation only after the fortuitous event, the fire, occurs.

aleatory contract

a betting contract.

Aleatory Contract

A contract whose performance is dependent on the future occurrence of some event and/or in which the amount of money exchanged between the parties may be unequal. For example, an insurance policy is usually an aleatory contract because the insurance company does not have to do anything unless an insured event occurs.

aleatory contract

Related to aleatory contract: contract of adhesion

noun

Words related to aleatory contract

noun a contract whose performance by one party depends on the occurrence of an uncertain contingent event (but if it is contingent on the outcome of a wager it is not enforceable)

Related Words

contract

随便看

英语词典包含2567994条英英释义在线翻译词条，基本涵盖了全部常用单词的英英翻译及用法，是英语学习的有利工具。