aleatory contract

(redirected from Aleatory contracts)
Also found in: Dictionary, Legal, Financial.
Related to Aleatory contracts: contract of adhesion, Unilateral Contracts
Graphic Thesaurus  🔍
Display ON
Animation ON
  • noun

Words related to 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)

Related Words

References in periodicals archive ?
Legally, the game and the bet are defined as aleatory contracts in which the parties mutually agree to pay an amount or other thing to the winner, subject to the fulfillment or failure of an event which gives rise to opportunities for gain or loss for both or all contracting parties.
Under these conditions, the conclusion was imposed according to which the so-called self-help games of humanitarian aid did equal neither the mutual aid activities, nor the humanitarian ones, falling into the category of aleatory contracts governed by the 1864Civil Code, under the name of "game and wager." (18)
subset in a series of aleatory contracts. Where multiple contracts
If damages based upon a theory of probability is a sound approach for aleatory contracts, why is it unsound as to other contracts?
An aleatory contract is one in which at least one party is under a duty that is conditional on the occurrence of an event that, so far as the parties to the contract are aware, is dependent on chance.
Franklin presents these topics in a chapter headed "Aleatory Contracts: Insurance, Annuities and Bets" the best part of the book, for my money.
The Notion and Fundamental Characteristics of Aleatory Contracts