A contract based on the occurrence of a future event of unequal bargaining value is known as?

An aleatory contract is defined as a type of agreement in which the performance of one or both parties is dependent on the occurrence of a certain event, which typically has an uncertain outcome. This type of contract often involves unequal exchanges, where one party may receive significantly more value than the other, depending on the occurrence of the event in question.

In the context of insurance, for example, the insurer collects premiums with the understanding that they may or may not have to pay out a claim depending on future events like accidents or natural disasters. The uncertainty of the event and the resulting obligation creates a characteristic imbalance in the value exchanged, exemplifying the essence of an aleatory contract.

The other types of contracts mentioned have distinct features that do not fit this description. A conditional contract involves obligations that are contingent upon certain conditions being met, but it does not inherently include the element of unequal value. A unilateral contract is an agreement where only one party makes a promise or undertakes an obligation, which does not directly relate to the concept of future events or unequal value. Lastly, a personal contract pertains to agreements between specific parties and does not necessarily hinge on an event's occurrence in the same way that an aleatory contract does.