Cambridge Dictionaries online Cambridge Dictionaries online

The most popular online dictionary and thesaurus for learners of English

English definition of “aleatory contract”

aleatory contract

noun [C]
 
 
INSURANCE, FINANCE, LAW 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.
(Definition of aleatory contract from the Cambridge Business English Dictionary © Cambridge University Press)
What is the pronunciation of aleatory contract?
Add Cambridge dictionaries to your browser to your website

Word of the Day

past participle

the form of a verb, usually made by adding -ed, used in some grammatical structures such as the passive and the present perfect

Word of the Day

Euphemisms (Words used to Avoid Offending People)

by Kate Woodford,
March 04, 2015
​​​ We recently looked at the language that we use to describe lies and lying. One area of lying that we considered was ‘being slightly dishonest, or not speaking the complete truth’. One reason for not speaking the complete truth is to avoid saying something that might upset or offend people. Words and

Read More 

snapchat verb

March 02, 2015
to send someone a message using the photomessaging application Snapchat We used to have a thing until he got a girlfriend. now

Read More