What best defines aleatory contracts in the context of insurance?

Aleatory contracts are defined by their reliance on a future, unknown event, making option C the best choice. In the context of insurance, these contracts involve an agreement where one party pays a premium, and the insurer promises to pay a benefit upon the occurrence of an uncertain event, like an accident or natural disaster. This characteristic creates a scenario where the potential outcomes are based on chance, which is a fundamental aspect of insurance agreements.

This nature of unpredictability and contingent conditions is what distinguishes aleatory contracts from other types of contracts that may involve fixed obligations or certain outcomes. In contrast, other options do not capture the essence of aleatory contracts. For instance, contracts that are written in a specific format refer more to the technical aspects of documentation rather than the nature of risk involved. Similarly, contracts requiring mutual obligation focus on the responsibilities of both parties involved, which does not inherently address the unpredictable events of insurance. Lastly, contracts that include strict conditions imply rigidity and set terms, which are not typical in insurance contracts because they thrive on the variable nature of potential future claims. Thus, the defining characteristic of an aleatory contract is indeed its dependence on a future, unknown event.