aleatory contract betydelse and definition

Betydelse av aleatory contract på svenska

• 0 an agreement that is connected with an event that is not under someone's control , that may or may not happen, and of which the result is uncertain. Most insurance agreements and derivatives (= financial products based on the value of another asset) are aleatory contracts:

  • The most common type of aleatory contract is an insurance policy, in which an insurance company must make payment only after a fortuitous event, such as a fire, occurs.