Bare Act Search Results

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 (6) A representation may be withdrawn or corrected before the contract is concluded.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 .....

Marine Insurance Act, 1963 Section 37

Title: Express Warranties

State: Central

Year: 1963

(1) An express warranty may be in any form of words from Which the intention to warrant is to be inferred. (2) An express warranty must be included in, or written upon, the policy, or must be contained in some document incorporated by reference into the policy. (3) An express warranty does not exclude implied warranty, unless it be inconsistent therewith.

Sale of Goods Act, 1930 Complete Act

State: Central

Year: 1930

.....identified and agreed upon at the time a contract of sale is made; and (15) expressions used but not defined in this Act and defined in the Contract Act, 1872, have the meanings assigned to them in that Act. Section 3 Application of provisions of Act 9 of 1872 The unrepealed provisions of the Contract Act, 1872, save insofar as they are inconsistent with the express provisions of this Act, shall continue to apply to contracts for the sale of goods. CHAPTER 2 FORMATION OF THE CONTRACT Section 4 Sale and agreement to sell (1) A contract of sale of goods is a contract whereby the seller transfers or agrees to transfer the property in goods to the buyer for a price. There may be a contract of sale between one part-owner and another. (2) A contract of sale may be absolute or conditional. (3) Where under a contract of sale the property in the goods is transferred from the seller to the buyer, the contract is called a sale, but where the transfer of the property in the goods is to take place at a future time or subject to some condition thereafter to be fulfilled, the contract is called an agreement to sell. (4) An agreement to sell becomes a sale when the time elapses or.....

Sale of Goods Act, 1930 Chapter II

Title: Formation of the Contract

State: Central

Year: 1930

.....are fulfilled subject to which the property in the goods is to be transferred. Section 5 - Contract of sale how made Formalities of the contract (1) A contract of sale is made by an offer to buy or sell goods for a price and the acceptance of such offer. The contract may provide for the immediate delivery of the goods or immediate payment of the price or both, or for the delivery or payment by instalments, or that the delivery or payment or both shall be postponed. (2) Subject to the provisions of any law for the time being in force, a contract of sale may be made in writing or by word of mouth, or partly in writing and partly by word of mouth or may be implied from the conduct of the parties. Section 6 to 8 - Subject-matter of contract Section 6 - Existing or future goods (1) The goods which form the subject of a contract of sale may be either existing goods, owned or possessed by the seller, or future goods. (2) There may be a contract for the sale of goods the acquisition of which by the seller depends upon a contingency which may or may not happen. (3) Where by a contract of sale the seller purports to effect a present sale of future goods, the contract.....

Sale of Goods Act, 1930 Section 16

Title: Implied Conditions as to Quality or Fitness

State: Central

Year: 1930

.....are required, soas to showthat the buyer relies on the seller's skill or judgment, and the goods are of adescription which it is in the course of the seller's business to supply (whetherhe is the manufacturer or producer or not), there is an implied condition thatthe goods shallbe reasonably fit for such purpose: Providedthat, in the case of a contract for the sale of a specified article under itspatent or othertrade name, there is no implied condition as to its fitness for any particularpurpose. (2) Where goods are bought by description from aseller who deals in goods of that description (whether he is the manufactureror producer or not), there is an implied condition that the goodsshall be ofmerchantable quality: Providedthat, if the buyer has examined the goods, there shall be no implied condition as regards defectswhich such examination ought to have revealed. (3) An implied warranty or condition as to quality orfitness for a particular purpose may be annexed by the usage of trade. (4) An express warranty or condition does notnegative a warranty or condition implied by this Act unless inconsistenttherewith.

Marine Insurance Act, 1963 Section 35

Title: Nature of Warranty

State: Central

Year: 1963

(1) A warranty, in the following sections relating to warranties, means a promissory warranty, that is to say a warranty by which the assured undertakes that some particular thing shall or shall not be done, or that some condition shall be fulfilled, or whereby he affirms or negatives the existence of a particular state of facts. (2) A warranty may be express or implied. (3) A warranty, as above defined, is a condition which must be exactly complied with, whether it be material to the risk or not. If it be not so complied with, then, subject to any express provision in the policy the insurer is discharged from liability as from the date of the breach of warranty but without prejudice to any liability incurred by him before that date.

Sale of Goods Act, 1930 Section 13

Title: When Condition to Be Treated as Warranty

State: Central

Year: 1930

( 1 ) Where a contract of sale is sub ject to any condition to be fulfilled by the seller, the buyer may waive the condition or elect to treat the breach of the condition as a breach of warranty and not as a ground for treating the contract as repudiated. ( 2 ) Where a contract of sale is not severable and the buyer has accepted the goods or part thereof,1[***] the breach of any condition to be fulfilled by the seller can only be treated as a breach of warranty and not as a ground for rejecting the goods and treating the contract as repudiated, unless there is a term of the contract, express or implied, to that effect. ( 3 ) Nothing in this section sh all affect the case of any condition or warranty fulfilment of which is excused by law by reason of impossibility or other wise. ______________________ 1 . The words "or where the contract is for specific goods the property in which has passed to the buyer" omitted by Act 33 of 1963 , sec. 3 (w .e.f . 22 - 9 - 1963 ).

Marine Insurance Act, 1963 Section 20

Title: Disclosure by Assured

State: Central

Year: 1963

.....be disclosed, namely:-- (a) any circumstance which diminishes the risk. (b) any circumstance which is known or presumed to be known to the insurer. The insurer is presumed to know matters of common notoriety or knowledge, and matters which an insurer in the ordinary course of his business as such ought to know; (c) any circumstance as to which information is waived by the insurer; (d) any circumstance which it is superfluous to disclose by reason of any express or implied warranty. (4) Whether any particular circumstance, which is not disclosed, be material or not is, in each case, a question of fact. (5) The term "circumstance" includes any communication made to, or information received by, the assured.

Marine Insurance Act, 1963 Section 51

Title: Excuse for Deviation or Delay

State: Central

Year: 1963

(1) Deviation or delay in prosecuting the voyage contemplated by the policy is excused-- (a) where authorised by any special term in the policy; or (b) where caused by circumstances beyond the control of the master and his employer; or (c) where reasonably necessary in order to comply with an express or implied warranty; or (d) where reasonably necessary for the safety of the ship or subject-matter insured; or (e) for the purpose of saving human life or aiding a ship in distress where human life may be in danger; or (f) where reasonably necessary for the purpose of obtaining medical or surgical aid for any person on board the ship; or (g) where caused by the barratrous conduct of the master or crew, if barratry be one of the perils insured against. (2) When the cause excusing the deviation or delay ceases to operate, the ship must resume her course, and prosecute her voyage, with reasonable despatch.