Answer :
The term which describes the fact that both parties of a contract may not receive the same value is referred to as: Aleatory
Aleatory is a term that describes the fact that both parties of a contract may NOT receive the same value.
What contract element is insurable interest?
Another element of a valid insurance contract is insurable interest. Insurable interest is a component of legal purpose.
This means that the person acquiring the contract (the applicant) must be subject to loss upon the death, illness, or disability of the person being insured.
What do you mean by implied authority?
An agent's power to act on behalf of a principal, intentionally granted by the principal as a result of the principal's conduct, but without an express agreement.
To learn more about Aleatory, refer:
https://brainly.com/question/11049079
#SPJ4