Definitions
There is 1 meaning of the phrase
Aleatory Contract.
Aleatory Contract - as a 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)
Example Sentences
"An aleatory contract is a type of agreement where the performance of one party depends on the occurrence of a future uncertain event."
"In an aleatory contract, the amount of money to be paid by one party is uncertain and depends on chance."
"Insurance policies are often considered aleatory contracts because the payout is triggered by an unpredictable event."
"The lottery is an example of an aleatory contract as the winnings are determined by chance."
"An aleatory contract may involve a gambling element where one party risks losing more than the other party."
