aleatory contract

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Definitions from WordNet

Noun aleatory contract has 1 sense

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)
--₁ is a kind of contract

Definitions from the Web

Aleatory Contract

Description:

An aleatory contract, also known as a gamble contract, is a type of agreement in which the performance or outcome is dependent on an uncertain event or chance. It is commonly used in insurance and gambling industries, where the results are unpredictable and depend on various unforeseeable factors.

Examples:

Noun:

When purchasing insurance, you are entering into an aleatory contract, as the amount you pay depends on the occurrence of a specific event.
His success in the casino was a result of his willingness to take risks and engage in aleatory contracts.

Adjective:

They engaged in an aleatory contract with the hopes of gaining significant profits if the market fluctuated in their favor.
Due to the volatile nature of the stock market, investing in stocks can be seen as an aleatory contract.

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