aleatory contract

The most common type of aleatory contract are insurance policies.

Many modern forms of derivatives and options may in some cases also be considered aleatory contracts.

Nonetheless, both insurance and gambling contracts are typically considered aleatory contracts under most legal systems, though they are subject to different types of regulation.

An aleatory contract is a contract in which the performance of one or both parties is contingent upon the occurrence of a particular event.

For example, the French civil code contains a chapter on aleatory contracts, with specific provisions for gaming (gambling) and life annuities.

An aleatory contract, therefore, was made, the uncertainties being the amount of the income of the office and the length of life of the purchaser.