Simple English definitions for legal terms
Read a random definition: agreed value
Adventure is when someone takes a risk to do something exciting or new. It can also mean a journey by sea that involves a lot of money and risk, like shipping goods. When people work together and share the risks, it's called a common adventure or joint venture. Sometimes people borrow money for an adventure, and if they do it by sea, it's called a gross adventure.
Definition: Adventure refers to a commercial undertaking that involves an element of risk or uncertainty. It can also refer to a voyage that involves financial and insurable risk, such as a shipment of goods.
These examples illustrate how adventure involves taking a risk in a commercial or financial context. In both cases, there is a chance of success or failure, and the outcome is uncertain.