Insurance contracts are known as: A. Aleatory
B. Consideration
C. Conditional
D. Unilateral
Insurance contracts are known as:
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The correct answer is A. Aleatory.
An insurance contract is considered aleatory because it involves a situation where one party may gain or lose depending on uncertain events (such as a loss or claim). The premiums paid by the insured may not equate to the benefits received, making the contract contingent on the occurrence of specified events. If you have any more questions or need further assistance, feel free to ask!