Which characteristic defines aleatory contracts?

Aleatory contracts are defined by their inherent inequality in consideration, meaning that the amounts paid or the benefits provided are not equal and depend on specific events, which only happen some of the time. In the context of insurance, this means the insurer will make a payment only if a certain event, such as a loss or damage, occurs. The unpredictability of these events creates a circumstance where one party may receive a significantly higher benefit than what they have contributed, depending on whether the insured event takes place.

In this type of contract, the insured pays premiums with the expectation that the insurer will provide a payout when covered events occur, but the payout is contingent on those events actually happening. This characteristic distinguishes aleatory contracts from others where considerations are equal and unconditional.