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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.
Insurance contracts are aleatory in that the amounts exchanged by the insured and insurer are unequal and depend upon uncertain future events. [ 9 ] [ 10 ] In contrast, ordinary non-insurance contracts are commutative in that the amounts (or values) exchanged are usually intended by the parties to be roughly equal.
The McCarran–Ferguson Act, 15 U.S.C. §§ 1011-1015, is a United States federal law that exempts the business of insurance from most federal regulation, including federal antitrust laws to a limited extent.
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The mastermind behind the decade-long bribery scheme and one of the largest corruption scandals in US military history that brought down dozens of Navy officials has been sentenced to 15 years in ...
Clausula rebus sic stantibus is the legal doctrine allowing for a contract or a treaty to become inapplicable because of a fundamental change of circumstances. In public international law the doctrine essentially serves an "escape clause" to the general rule of pacta sunt servanda (promises must be kept).
After 3 months, Mercy and insurance provider Anthem agree on multi-year contract. Gannett. Susan Szuch, Springfield News-Leader. December 4, 2024 at 9:38 AM. ... Under the new contract, Missouri ...
Black Friday tends to cause a bit of chaos every year. Especially because it’s not so much a single day of good deals as a constantly expanding period of non-stop sales (and annoying ads).