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LSDefine

Simple English definitions for legal terms

aleatory contract

Read a random definition: whereupon

A quick definition of aleatory contract:

An aleatory contract is a type of agreement between two or more parties that is enforceable by law. It is a contract that is dependent on an uncertain event, such as a natural disaster or a lottery. The outcome of the event will determine the obligations of the parties involved. For example, if a person buys insurance, they are entering into an aleatory contract because the payout is dependent on an uncertain event, such as a car accident or a house fire.

A more thorough explanation:

An aleatory contract is a type of contract where the performance of one or both parties depends on an uncertain event. This means that the outcome of the contract is uncertain and depends on chance or luck.

For example, an insurance contract is an aleatory contract because the payment of the insurance premium is made in exchange for the possibility of a future event, such as a car accident or a house fire. The insured party may or may not experience the event, and the insurance company may or may not have to pay out the claim.

Another example of an aleatory contract is a gambling contract, where the outcome depends on chance or luck. For instance, if you bet on a horse race, you are entering into an aleatory contract because the outcome of the race is uncertain and depends on the performance of the horses.

Overall, aleatory contracts are unique because they involve an element of risk and uncertainty, which can make them exciting but also risky.

aleator | aleatory promise

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General

General chat about the legal profession.
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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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