Simple English definitions for legal terms
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A hazardous contract is a type of contract that involves a risk or uncertainty for one or both parties. This type of contract is also known as an aleatory contract. A contract is an agreement between two or more people that creates legal obligations. It can be a written document or a verbal agreement. The legal relations resulting from the agreement consist of rights and duties, and the sum of these legal relations is called an obligation. A hazardous contract is one where the outcome is uncertain, and there is a chance of loss or gain for one or both parties.
A hazardous contract is a type of contract that is considered risky or uncertain for one or both parties involved. It is also known as an aleatory contract. This type of contract is based on an uncertain event or outcome, and the parties involved may not know the exact outcome or consequences of the contract.
These examples illustrate how a hazardous contract is based on an uncertain event or outcome, and the parties involved may not know the exact consequences of the contract. This type of contract can be risky for one or both parties, as the outcome may not be in their favor.