Aleatory contract

From Wikipedia, the free encyclopedia

An aleatory contract is a contract where an uncertain event determines the parties' rights and obligations.[1][2] For example, gambling, wagering, or betting typically use aleatory contracts. Additionally, another very common type of aleatory contract is an insurance policy.[3]

The term was a classification developed in later medieval Roman law to cover all contracts whose fulfilment depended on chance, including gambling, insurance, speculative investment and life annuities.[4] Many modern forms of derivatives and options may in some cases also be considered aleatory contracts. For example, the French civil code contains a chapter on aleatory contracts, with specific provisions for gaming (gambling) and life annuities.[5]


  1. ^ "Aleatory". Merriam-Webster. Retrieved 11 May 2018.
  2. ^ "What is ALEATORY CONTRACT?".
  3. ^ Black's Law Dictionary, 7th ed. 1999
  4. ^ J. Franklin, The Science of Conjecture: Evidence and Probability Before Pascal (Baltimore: Johns Hopkins University Press, 2001), ch. 11.
  5. ^ Text of French Civil Code (in English) Archived 2008-06-29 at the Wayback Machine


  1. ^ "". May 25, 2021.