Bare Act Search Results

Marine Insurance Act, 1963 Section 60

Title: Constructive Total Loss Defined

State: Central

Year: 1963

.....any express provision in the policy, there is a constructive total loss where the subject-matter insured is reasonably abandoned on account of its actual total loss appearing to be unavoidable, or because it could not be preserved from actual total loss without an expenditure which would exceed its value when the expenditure had been incurred. (2) In particular, there is a constructive total loss-- (i) where the assured is deprived of the possession of his ship or goods by a peril insured against, and (a) it is unlikely that he can recover the ship or goods, as the case may be, or (b) the cost of recovering the ship or goods, as the case may be, would exceed their value when recovered; or (ii) in the case of damage to a ship, where she is so damaged by a peril insured against that the cost of repairing the damage would exceed the value of the ship when repaired. In estimating the cost of repairs, no deduction is to be made in respect of general average contributions to those repairs payable by other interests, but account is to be taken of the expense of future salvage operations and of any future general average contributions to which the ship would be liable if.....

Marine Insurance Act, 1963 Section 61

Title: Effect of Constructive Total Loss

State: Central

Year: 1963

Where there is a constructive total loss the assured may either treat the loss as a partial loss, or abandon the subject-matter insured to the insurer and treat the loss as if it were an actual total loss.

Marine Insurance Act, 1963 Section 56

Title: Partial and Total Loss

State: Central

Year: 1963

(1) A loss may be either total or partial. Any loss other than a total loss, as hereinafter defined, is a partial loss. (2) A total loss may be either an actual total loss, or a constructive total loss. (3) Unless a different intention appears from the terms of the policy, an insuranace against total loss includes a constructive, as well as an actual, total loss. (4) Where the assured brings a suit for a total loss and the evidence proves only a partial loss, he may, unless the policy otherwise provides, recover for a partial loss. (5) Where goods reach their destination in specie, but by reason of obliteration of marks, or otherwise, they are incapable of identification, the loss, if any is partial and not total.

Marine Insurance Act, 1963 Section 57

Title: Actual Total Loss

State: Central

Year: 1963

(1) Whether the subject-matter insured is destroyed, or so damaged as to cease to be a thing of the kind insured, or where the assured is irretrievably deprived thereof, there is an actual total loss. (2) In the case of an actual total loss no notice of abandonment need be given.

Marine Insurance Act, 1963 Section 68

Title: Total Loss

State: Central

Year: 1963

Subject to the provisions of this Act, and to any express provision in the policy, where there is a total loss of the subject-matter insured-- (1) if the policy be a valued policy, the measure of indemnity is the sum fixed by the policy; (2) if the policy be an unvalued policy, the measure of indemnity is the insurable value of the subject-matter insured.

Multimodal Transportation of Goods Act, 1993 Section 19

Title: Limit of Liability of Multimodal Transport Operator for Total Loss of Goods

State: Central

Year: 1993

The multimodal transport operator shall not, in any case, be liable for an amount greater than the liability for total loss of goods for which a person will be entitled to make a claim against him under the provisions of this Act.

Marine Insurance Act, 1963 Complete Act

State: Central

Year: 1963

.....NEGOTIATION OF CONTRACT (1) Every material representation made by the assured or his agent to the insurer during the negotiations for the contract, and before the contract is concluded, must be true. If it be untrue the insurer may avoid the contract. (2) A representation is material which would influence the judgment of a prudent insurer in fixing the premium, or determining whether he will take the risk. (3) A representation may be either as to a matter of fact, or as to a matter of expectation or belief. (4) A representation as to a matter of fact is true, if it be substantially correct, that is to say, if the difference between what is represented and what is actually correct would not be Considered material by a prudent insurer. (5) A representation as to a matter of expectation or belief is true if it be made in good faith. (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. SECTION 23: WHEN CONTRACT IS DEEMED TO BE CONCLUDED A contract of marine insurance is deemed to be concluded when the proposal of the assured is accepted by the.....

Marine Insurance Act, 1963 Complete Act

Title: Marine Insurance Act, 1963

State: Central

Year: 1963

..... Section20 - Disclosure by assured Section21 - Disclosure by agent effecting insurance Section22 - Representations pending negotiation of contract Section23 - When contract is deemed to be concluded Section24 - Contract must be embodied in policy Section25 - What policy must specify Section26 - Signature of insurer Section27 - Voyage and time policies Section28 - Designation and subject-matter Section29 - Valued policy Section30 - Unvalued policy Section31 - Floating policy by ship or ships Section32 - Construction of terms in policy Section33 - Premium to be arranged Section34 - Double insurance Section35 - Nature of warranty Section36 - When breach of warranty excused Section37 - Express warranties Section38 - Warranty of neutrality Section39 - No implied warranty of nationality Section40 - Warranty of good safety Section41 - Warranty of seaworthiness of ship Section42 - No implied warranty that goods are seaworthy Section43 - Warranty of legality Section44 - Implied conditions as to commencement of risk Section45 - Alteration of port of departure Section46 - Sailing for different destination Section47 - Change of voyage Section48 - Deviation .....

Metro Railways (Construction of Works) Act, 1978 Chapter IV

Title: Construction of Works

State: Central

Year: 1978

.....22 - Payment Of Amount For Prohibition Of Construction, Etc. (1) If in consequence of any direction contained in any notification issued under sub-section (1) of section 21 any person sustains any loss or damage such person shall be paid an amount which shall be determined1[by an order of the competent authority] in the first instance. (2) If the amount determined by the competent authority is not acceptable to either of the parties, the amount shall,2[on an appeal preferred by either of the parties within sixty days from the date of the order of the competent authority, to the appellate authority, be determined by an order of the appellate authority]. (3) The competent authority or the3[appellate authority] while determining the amount under sub-section (1) or sub-section (2), as the case may be, shall take into consideration-- (i) the loss or damage sustained by such person in his earnings; (ii) the diminution, if any, of the market value of the land or building immediately after the date of publication of such notification; (iii) where in pursuance of any direction any building has been demolished or any additions or alterations to such building have been made or.....

Marine Insurance Act, 1963 Section 29

Title: Valued Policy

State: Central

Year: 1963

(1) A policy may be either valued or unvalued. (2) A valued policy is a policy which specifies the agreed value of the subject-matter insured. (3) Subject to the provisions of this Act, and in the absence of fraud, the value fixed by the policy is, as between the insurer and assured, conclusive of the insurable value of the subject intended to be insured, whether the loss be total or partial. (4) Unless the policy otherwise provides, the value fixed by the policy is not conclusive for the purpose of determining whether there has been a constructive total loss.