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) A contract whose performance is dependent on the future occurrence of some event and/or in which the amount of money exchanged between the parties may be unequal. For example, an insurance policy is usually an aleatory contract because the insurance company does not have to do anything unless an insured event occurs. Aleatory Contract Law and Legal Definition. An aleatory contract is a contract whose execution or performance is contingent upon the occurrence of a particular event or contingency or an uncertain (random) event beyond the control of either party. Most insurance policies are aleatory contracts. An aleatory contract is an agreement in which one of the parties, or both the parties reciprocally, are uncertain as to their obligation to perform. Basically, it is a contract that depends upon a chance occurrence. Examples of such contracts include gambling contracts and betting contracts. 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. An aleatory contract is a type of contract where the parties’ obligation is linked to a future and uncertain event. In other words, the contracting parties promise to execute certain obligations or perform certain things upon the happening of a specific triggering event. An aleatory contract is an agreement whereby the parties involved do not have to perform a particular action until a specific, triggering event occurs. Events are those that cannot be controlled 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. Definition of aleatory contract in the Fine Dictionary. Meaning of aleatory contract with illustrations and photos. Pronunciation of aleatory contract and it's etymology. Related words - aleatory contract synonyms, antonyms, hypernyms and hyponyms. Example sentences containing aleatory contract
[index] [9818] [9874] [9469] [3308] [8008] [4089] [6402] [9980] [3155] [7784]
For tutoring please call 856.777.0840 I am a recently retired registered nurse who helps nursing students pass their NCLEX. I have been a nurse since 1997. I have worked in a lot of nursing fields ... Basic introduction to construction contract law. The fourth of a series working through the basics that are needed before studying construction contract law.... Fireplace 10 hours in full HD resolution.10 hours burning logs loop play. What are express and implied contracts? This video introduces express contracts and contractual terms, where the terms and explicitly stated, and implied co... UPDATED VIDEO IS HERE:http://youtu.be/ogq9TNe9l_4What is a unilateral contract? This video discusses unilateral contracts, where only one party makes a prom... A collective agreement is very similar to a rule book - one that spells out the conditions of work so that the rules apply to everyone.
Copyright © 2024 m.realmoneygametop.xyz