HAZARDOUS CONTRACT
\hˈazədəs kˈɒntɹakt], \hˈazədəs kˈɒntɹakt], \h_ˈa_z_ə_d_ə_s k_ˈɒ_n_t_ɹ_a_k_t]\
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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.
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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.
By John Bouvier
Word of the day
Snake's-head
- Guinea-hen flower; -- so called in England because its spotted petals resemble the scales of a snake's head.