An aleatory contract is specifically characterized by:

An aleatory contract is characterized by the principle of unequal obligations and payment conditions, which is fundamental to its nature. In these contracts, the amount of money that one party pays (such as the premiums in an insurance contract) is not equivalent to the potential benefit that the other party may receive (such as the claim payout). This disparity highlights the inherent uncertainty and risk involved in the agreement, where one party may end up receiving a significant benefit from a relatively low investment, while the other party may not incur any payout at all.

This unequal nature is why aleatory contracts are often associated with insurance and gambling, where the outcome is uncertain and can lead to varying degrees of loss or gain for each party involved. Thus, in an insurance context, while the premiums paid by the insured are relatively small compared to the potential payout in the event of a covered loss, this disparity exemplifies the essence of an aleatory contract.