CAP. 329]
Marine Insurance.
【1964 Ed.
When contract is deemed to be concluded.
6 Edw. 7 c. 41, s. 21.
(6) A representation may be withdrawn or corrected before the contract is concluded.
(7) Whether a particular representation be material or not is, in each case, a question of fact.
21. A contract of marine insurance is deemed to be concluded when the proposal of the assured is accepted by the insurer, whether the policy be then issued or not; and, for the purpose of showing when the proposal was accepted, reference may be made to the slip or covering note or other customary memorandum of the contract.
Contract must be embodied in policy.
6 Edw. 7 c. 41, s. 22.
What policy must specify.
6 Edw. 7 c. 41, s. 23.
Signature of insurer.
6 Edw. 7 c. 41, s. 24.
Voyages and time policies.
6 Edw. 7 c. 41, s. 25.
Designation of subject-matter.
6 Edw. 7 c. 41, s. 26.
THE POLICY.
22. Subject to the provisions of any Ordinance, a contract of marine insurance is inadmissible in evidence unless it is embodied in a marine policy in accordance with this Ordinance. The policy may be executed and issued either at the time when the contract is concluded, or afterwards.
23. A marine policy must specify the name of the assured, or of some person who effects the insurance on his behalf.
24. (1) A marine policy must be signed by or on behalf of the insurer, provided that in the case of a corporation the corporate seal may be sufficient, but nothing in this section shall be construed as requiring the subscription of a corporation to be under seal.
(2) Where a policy is subscribed by or on behalf of two or more insurers, each subscription, unless the contrary be expressed, constitutes a distinct contract with the assured.
25. Where the contract is to insure the subject-matter "at and from", or from one place to another or others, the policy is called a "voyage policy", and where the contract is to insure the subject-matter for a definite period of time the policy is called a "time policy". A contract for both voyage and time may be included in the same policy.
26. (1) The subject-matter insured must be designated in a marine policy with reasonable certainty.
(2) The nature and extent of the interest of the assured in the subject-matter insured need not be specified in the policy.
(3) Where the policy designates the subject-matter insured in general terms, it shall be construed to apply to the interest intended by the assured to be covered.
(4) In the application of this section regard shall be had to any usage regulating the designation of the subject-matter insured.
10
CAP. 329]
Marine Insurance.
【1964 Ed.
When contract is deemed to be concluded.
6 Edw. 7 c. 41, s. 21.
(6) A representation may be withdrawn or corrected before the contract is concluded.
(7) Whether a particular representation be material or not is, in each case, a question of fact.
21. A contract of marine insurance is deemed to be con- cluded when the proposal of the assured is accepted by the insurer, whether the policy be then issued or not; and, for the purpose of showing when the proposal was accepted, reference may be made to the slip or covering note or other customary memorandum of the contract.
Contract must be embodied in
policy.
6 Edw. 7 c. 41, s. 22.
What policy must specify.
6 Edw. 7 c. 41, s. 23.
Signature of insurer.
6 Edw. 7 c. 41. s. 24.
Voyages and time policies.
6 Edw. 7 c. 41, 8. 25.
Designation of subject-matter.
6 Edw. 7 c. 41.
8. 26.
THE POLICY.
22. Subject to the provisions of any Ordinance, a contract of marine insurance is inadmissible in evidence unless it is embodied in a marine policy in accordance with this Ordinance. The policy may be executed and issued either at the time when the contract is concluded, or afterwards.
23. A marine policy must specify the name of the assured, or of some person who effects the insurance on his behalf.
24. (1) A marine policy must be signed by or on behalf of the insurer, provided that in the case of a corporation the cor- porate seal may be sufficient, but nothing in this section shall be construed as requiring the subscription of a corporation to be under seal.
(2) Where a policy is subscribed by or on behalf of two or more insurers, each subscription, unless the contrary be expressed, constitutes a distinct contract with the assured.
25. Where the contract is to insure the subject-matter "at and from", or from one place to another or others, the policy is called a "voyage policy”, and where the contract is to insure the subject-matter for a definite period of time the policy is called a "time policy". A contract for both voyage and time may be included in the same policy.
26. (1) The subject-matter insured must be designated in a marine policy with reasonable certainty.
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(2) The nature and extent of the interest of the assured in the subject-matter insured need not be specified in the policy.
(3) Where the policy designates the subject-matter insured in general terms, it shall be construed to apply to the interest intended by the assured to be covered.
(4) In the application of this section regard shall be had to any usage regulating the designation of the subject-matter insured.
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