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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.
In insurance, the insurance policy is a contract (generally a standard form contract) between the insurer and the policyholder, which determines the claims which the insurer is legally required to pay. In exchange for an initial payment, known as the premium, the insurer promises to pay for loss caused by perils covered under the policy language.
A contract is a legally binding agreement made between parties involved in a transaction for the exchange of goods or services. The agreement often comes in the form of a written instrument that provides the terms or conditions of the arrangement, each of which correspond to an obligation that one of the parties entering the agreement is obliged to fulfill.
Policy number: This is a unique number assigned to your car insurance policy. This helps your company find your exact policy when you make changes or file a claim.
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A FedEx contract worker has been busted for allegedly dumping dozens of packages in the woods to avoid working late. Latavion Lewis was arrested after a post office in Bonifay, Florida, received ...
Military Claims 'Knock for knock' is also used in a specific, analogous sense, for example, the following, cited in the "Law at War", from the US Army website : In addition to handling these routine matters, the chief of the Claims Section participated in the negotiations with the Korean government concerning the payment of foreign claims generated by troops of the Army of the Republic of ...
"Hearst Magazines and Yahoo may earn commission or revenue on some items through these links." “She’s a total spitfire,” Larter says of the character. “You see her going to the bar, and ...