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Simple English definitions for legal terms
adventure
Read a random definition: reciprocal contract
A quick definition of adventure:
Adventure is when someone takes a risk to do something exciting or new. It can also mean a journey by sea that involves a lot of money and risk, like shipping goods. When people work together and share the risks, it's called a common adventure or joint venture. Sometimes people borrow money for an adventure, and if they do it by sea, it's called a gross adventure.
A more thorough explanation:
Definition: Adventure refers to a commercial undertaking that involves an element of risk or uncertainty. It can also refer to a voyage that involves financial and insurable risk, such as a shipment of goods.
- A group of investors starting a new business together is an example of an adventure.
- A shipment of goods across the ocean is an example of an adventure because there is a risk of damage or loss during the voyage.
These examples illustrate how adventure involves taking a risk in a commercial or financial context. In both cases, there is a chance of success or failure, and the outcome is uncertain.