What does "aleatory" mean in the context of contracts?

In the context of contracts, the term "aleatory" refers to situations where the outcomes depend on uncertain events, essentially involving chance or randomness. This is particularly relevant in insurance contracts and other agreements where the obligations of the parties may be contingent upon the occurrence of an event that is uncertain.

For example, in an insurance policy, the insurer's obligation to pay a claim may only arise if a certain event occurs, such as damage to property. This creates an element of risk and unpredictability, which is a key characteristic of aleatory contracts. Thus, the correct choice highlights that the result of such contracts is influenced by chance rather than being purely deterministic or equally weighted.

The other options do not adequately describe the concept of aleatory. Exact equivalence of values, mutual agreement on outcomes, and the expectation of mutual benefit all imply a level of certainty or equality that is not present in an aleatory arrangement.