A contract aleatory

Aleatory – A contract that may result in unequal benefit between the parties. An insurance policy is an example of an aleatory contract. The premiums paid by the Look at other dictionaries: aleatory contract — ➔ contract1 * * * aleatory contract UK US noun [C] ▻ INSURANCE, FINANCE, LAW an agreement that is ALEATORY CONTRACT*. A contract in which one party provides something of value to another party in exchange for a conditional promise, which is a promise 28 Feb 2018 represents an aleatory contract, and as such creates a suitable solution that satisfies all legal and ethical requirements of a money substitute. Aleatory Contracts: An aleatory contract is a mutual agreement the effects of which are triggered by the occurrence of an uncertain event. In this type of contract,

2018년 1월 22일 보험과 도박은 모두 불확실한 투자라는 점에서 사행성 요인 (aleatory contract)을 갖고 있다. 작은 투자 금액에 대한 대가가 비교가 되지 않을 정도로

A contract in which the values exchanged be unequal is: An aleatory contract. A pure risk is where there is: Only the possibility of loss or no loss. Loss frequency Many translated example sentences containing "aleatory contract" – German- English dictionary and search engine for German translations.

Deriving from the Latin noun alea, which refers to a kind of dice game, aleatory was first used in English in the late 17th century to describe things that are dependent on uncertain odds, much like a roll of the dice. The term now describes things that occur by sheer chance or accident, such as the unlucky bounce of a golf shot or the unusual shape of an ink blot.

written for law, insurance, risk and insurance or other areas, consider the insurance contract an aleatory contract, thus, clas- sifying the insurance contract in the Usually applied to insurance contracts in which payment is dependent on the occurrence of an uncertain event, such as injury to an insured person or fire damage How to use aleatory in a sentence. Did You 1 : depending on an uncertain event or contingency as to both profit and loss an aleatory contract. 2 : relating to

Usually applied to insurance contracts in which payment is dependent on the occurrence of an uncertain event, such as injury to an insured person or fire damage

response would probably be: Doe has entered into a unilateral, aleatory contract, the consideration on his side being the payment of an insurance premium, the So far you have studies that the Insurance contract is a con- tract of indemnity. Insurance contracts are said to be aleatory i.e. the values given up by the

Aleatory definition, depending on a contingent event: an aleatory contract. See more.

The Definition. An aleatory contract is a contract between two parties with agreements contingent on a specific event or occurrence. For example, insurance policies are considered aleatory contracts, because the policy does not go to work for the consumer until the event itself comes to pass. An aleatory contract is an agreement between an individual and an insurance company. The purpose of the agreement is to ensure that the insurer honors the claim when a specific event occurs. The terms of an agreement state the coverage by the insurer and the claim process by the insured. Aleatory contracts are contracts in which there is no obligation for one party to pay another party until a specific event takes place. Insuranceopedia explains Aleatory Contract. Since insurers don't usually have to pay policyholders until they file a claim, most insurance contracts are aleatory contracts.