{"id":8239,"date":"2017-11-18T06:19:52","date_gmt":"2017-11-18T06:19:52","guid":{"rendered":"https:\/\/reunitethestates.org\/?page_id=8239"},"modified":"2017-11-18T06:26:16","modified_gmt":"2017-11-18T06:26:16","slug":"aleatory-contract-where-at-least-one-partys-performance-depends-on-some-uncertain-event-that-is-beyond-the-control-of-the-parties-involved-i-e-insurance-contracts-and-life-annuities","status":"publish","type":"page","link":"https:\/\/reunitethestates.org\/?page_id=8239","title":{"rendered":"Aleatory Contract – where at least one party\u2019s performance depends on some uncertain event that is beyond the control of the parties involved (i.e. insurance contracts and life annuities)"},"content":{"rendered":"

aleatory contract<\/span>:<\/span><\/strong>
\n(ay-lee-a-tor-ee)
\n<\/span>[fr. Latin aleator \u201cgambler,\u201d fr. also \u201cthe throwing of dice\u201d] (1891)<\/span><\/p>\n

1. A contract in which at least one party\u2019s performance depends on some uncertain event that is beyond the control of the parties involved.\u00a0 *\u00a0 Most insurance contracts and life annuities are of this type.<\/strong> \u2014 aka hazardous contract<\/strong><\/em><\/span>; wagering contract<\/span><\/strong><\/em>.\u00a0 Cf. certain contract.<\/span><\/p>\n

\u00a0 \u00a0 \u00a0Excerpt from\u00a0La. Civ. Code art. 1912<\/a>:<\/span><\/strong><\/span><\/p>\n

\u00a0 \u00a0 \u00a0\u201cA contract is aleatory when, because of the nature or according to the parties\u2019 intent, the performance of either party\u2019s obligation, or the extent of the performance, depends on an uncertain event.<\/span>\u201d<\/strong> [2]<\/span><\/p>\n

References:<\/span><\/span><\/strong><\/p>\n

Disclaimer:<\/span><\/span><\/strong> All material throughout this website is pertinent to people everywhere, and is being utilized in accordance with Fair Use<\/a>.<\/span><\/strong><\/p>\n

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[1]: Black’s Law Dictionary <\/a><\/span><\/strong>Deluxe Tenth Edition<\/b><\/span><\/a><\/em> by Henry Campbell Black, Editor in Chief Bryan A. Garner. ISBN: 978-0-314-61300-4<\/span><\/strong><\/p>\n

[2]:\u00a0\u00a0La. Civ. Code art. 1912<\/a>.<\/span><\/strong><\/p>\n

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