* Noun: When referring to the possibility or probability of something happening.
* Example: "There's a good chance of rain tomorrow."
* Verb: When meaning "to happen by chance" or "to risk."
* Example: "I chanced to meet my old friend at the market." or "He chanced his arm and asked for a promotion."
* Adjective: When meaning "happening by chance" or "fortuitous."
* Example: "It was a chance encounter, but it changed my life."
So, you need to look at the context of the sentence to determine the part of speech.