A Regulation of the Contract of Insurance in the General Civil Code from 1811

A legal regulation of the contract of insurance was officially presented in the Austrian Civil Code from 1811 for the first time. It was presented as so-called venturous contract and thus ranked to contracts that "promise and accept hopes concerning uncertain benefits" (ABGB § 1267). If we want to understand the basis and, above all, the character of that regulation, we should attempt to provide a detailed interpretation of the beginning of the contract of insurance in a wide frame and in a context of the preparation of the Austrian civil codification. This should be emphasized regarding the fact that that part of the Austrian Civil Code grew obsolete rather soon contrary to most provisions of tbe Austrian Civil Code that were in force during the whole era of capitalism.