Definition of HAZARDOUS CONTRACT


HAZARDOUS CONTRACT

civil law. When the performance of that which
is one
of its objects, depends on an uncertain event, the contract is said to be
hazardous. Civ. Co. of Lo. art. 1769 1 Bouv. Inst. n. 707.


2. When a contract is hazardous, and the lender may lose all or some part
of his principal, it is lawful for him to charge more than lawful interest
for the use of his money. Bac. Ab. Usury D; 1 J. J. Marsh, 596; 3 J. J.
Marsh, 84.


Source: Bouviers Law Dictionary 1856 Edition

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