An agreement concerned with an uncertain event that provides for unequal transfer of value between the parties. Insurance policies are aleatory contracts because an insured can pay premiums for many [..]

A contract under which one party provides something of value to another party in exchange for a conditional promise. This promise is that the other party will perform a stated act if a specified, unce [..]

see contract

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 par [..]

A contract whose value to either or both of the parties depends on chance or future events, or where the monetary values of the parties’ performance are unequal. Insurance contracts are aleatory because the policy owner pays premiums to the insurer, and in return the insurer promises to pay benefits if the event insured against occurs. The policyho [..]