aleatory promise
- An aleatory promise is a pledge to compensate someone, often insured, for a future loss, but this pledge only comes into effect based on the occurrence of an uncertain or unexpected event
- The agreement included an aleatory promise to cover future losses if the business didn't reach its target revenue.
- Insurance policies usually contain an aleatory promise, assuring policyholders that they will be compensated in case of certain unforeseen events.
- An aleatory promise is not guaranteed but depends on the occurrence of a specific uncertain event.
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