External Risks are generally something that is uncontrollable by the first party. ==In Contract Law== In contract law, are risks that are produced by a non-human source and are beyond human control. They are unexpected but happen regularly enough in a general population to be broadly predictable, and may be the subject of casualty insurance. Good ...
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http://en.wikipedia.org/wiki/External_risk
Dangers that spring from the natural world and are unrelated to the actions of humans. Examples of external risk include droughts, earthquakes, famines and storms. Anthony Giddens — Sociology, 5th Edition
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http://www.encyclo.co.uk/local/20212
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