What does contract of hazard mean?
Definitions for contract of hazard
con·tract of haz·ard
This dictionary definitions page includes all the possible meanings, example usage and translations of the word contract of hazard.
Princeton's WordNet
sale in gross, contract of hazardnoun
a sale of a tract of land as a whole without a warranty as to the acreage
ChatGPT
contract of hazard
A contract of hazard is a type of legal agreement in which the obligations of the parties involved are dependent on an uncertain event. The outcome of the contract, benefits or losses, depends on the occurrence or non-occurrence of the event, which is typically beyond the control of either party. Such contracts often arise in situations like insurance policies, gambling or speculative investments. In these contracts, the risk is distributed unevenly between the parties involved. The party assuming the greater risk generally stands to gain the more substantial benefit if the specified event occurs.
Matched Categories
Numerology
Chaldean Numerology
The numerical value of contract of hazard in Chaldean Numerology is: 1
Pythagorean Numerology
The numerical value of contract of hazard in Pythagorean Numerology is: 2
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"contract of hazard." Definitions.net. STANDS4 LLC, 2024. Web. 25 Apr. 2024. <https://www.definitions.net/definition/contract+of+hazard>.
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