Simple English definitions for legal terms
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Term: ALEA
Definition: Alea is a Latin word that means a game of chance or the possibility of winning or losing something in a contract. It refers to situations where the outcome is uncertain and depends on luck or probability. For example, rolling a dice or playing a slot machine are both examples of alea. When you enter into a contract, there is always a risk that you may not get what you expected, and that risk is called alea.
ALEA
ALEA is a Latin term used in Roman law. It has two meanings:
Examples of ALEA include:
These examples illustrate the two meanings of ALEA. In the first example, playing a game of chance is the primary focus, and the outcome is uncertain. In the second example, the focus is on the chance of gain or loss in a business contract, where the outcome is also uncertain.