Bare Act Search Results

Marine Insurance Act, 1963 Section 76

Title: Particular Average Warranties

State: Central

Year: 1963

.....assured cannot recover for a loss of part, other than a loss incurred by a general average sacrifice, unless the contract contained in the policy be apportionable; but, if the contract be apportionable, the assured may recover for a total loss of any apportionable part. (2) Where the subject-matter insured is warranted free from particular average, either wholly or under a certain percentage, the insurer is nevertheless liable for salvage charges, and for particular charges and other expenses properly incurred pursuant to the provisions of the suing and labouring clause in order to avert a loss insured against. (3) Unless the policy otherwise provides, where the subject-matter insured is warranted free from particular average under a specified percentage, a general average loss cannot be added to a particular average loss to make up the specified percentage. (4) For the purpose of ascertaining whether the specified percentage has been reached, regard shall be had only to the actual loss suffered by the subject-matter insured. Particular charges and the expenses of and incidental to ascertaining and proving the loss must be excluded.

Marine Insurance Act, 1963 Section 64

Title: Particular Average Loss

State: Central

Year: 1963

(1) A particular average loss is a partial loss of the subject-matter insured, caused by a peril insured against, and which is not a general average loss. (2) Expenses incurred by or on behalf of the assured for the safety or preservation of the subject-matter insured, other than general average and salvage charges, are called particular charges. Particularly charges are not included in particular average.

Marine Insurance Act, 1963 Section 73

Title: General Average Contributions and Salvage Charges

State: Central

Year: 1963

(1) Subject to any express provision in the policy, where the assured has paid, or is liable for, any general average contribution, the measure of indemnity is the full amount of such contribution if the subject-matter liable to contribution is insured for its full contributory value; but, if such subject-matter be not insured for its full contributory value, or if only part of it be insured, the indemnity payable by the insurer must be reduced in proportion to the under insurance, and where there has been a particular average loss which constitutes a deduction from the contributory value, and for which the insurer is liable, that amount must be deducted from the insured value in order to ascertain what the insurer is liable to contribute. (2) Where the insurer is liable for salvage charges the extent of his liabilities must be determined on the like principle.

Marine Insurance Act, 1963 Complete Act

State: Central

Year: 1963

.....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. SECTION 21: DISCLOSURE BY AGENT EFFECTING INSURANCE Subject to the provisions of the preceding section as to circumstances which need not be disclosed, where an insurance is effected for the assured by an agent, the agent must disclose to the insurer- (a) every material circumstance which is known to himself, and an agent to insure is deemed to know every circumstance which in the ordinary course of business ought to be known by, or to have been communicated to, him; and (b) every material circumstance which the assured is bound to disclose, unless it comes to his knowledge too late to communicate it to the agent. SECTION 22: REPRESENTATIONS PENDING 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.....

Marine Insurance Act, 1963 Complete Act

Title: Marine Insurance Act, 1963

State: Central

Year: 1963

.....Section75 - General provisions as to measure of indemnity Section76 - Particular average warranties Section77 - Successive losses Section78 - Suing and labouring clause Section79 - Right of subrogation Section80 - Right of contribution Section81 - Effect of under insurance Section82 - Enforcement of return Section83 - Return by agreement Section84 - Return for failure of consideration Section85 - Ratification by assured Section86 - Implied obligation varied by agreement or usage Section87 - Reasonable time, etc., a question of fact Section88 - Covering note as evidence Section89 - Power to apply Act with modifications etc., in certain cases Section90 - Certain provisions to override Transfer of Property Act, 1882 Section91 - Savings Section92 - Repeals ScheduleI - SCHEDULE

Marine Insurance Act, 1963 Section 66

Title: General Average Loss

State: Central

Year: 1963

(1) A general average loss is a loss caused by or directly consequential on a general average act. It includes a general average expenditure as well as a general average sacrifice. (2) There is a general average act where any extraordinary sacrifice or expenditure is voluntarily and reasonably made or incurred in time of peril for the purpose of preserving the property imperilled in the common adventure. (3) Where there is a general average loss, the party on whom it falls is entitled, subject to the conditions imposed by maritime law, to a rateable contribution from the other parties interested, and such contribution is called a general average contribution, (4) Subject to any express provision in the policy, where the assured has incurred a general average or expenditure, he may recover from the insurer in respect of the proportion of the loss which falls upon him; and in the case of a general average sacrifice, he may recover from the insurer in respect of the whole loss without having enforced his right of contribution from the other parties liable to contribute. (5) Subject to any express provision in the policy, where the assured has paid, or is liable to pay, a.....

Marine Insurance Act, 1963 Section 78

Title: Suing and Labouring Clause

State: Central

Year: 1963

(1) Where the policy contains a suing and labouring clause, the engagement thereby entered into is deemed to be supplementary to the contract of insurance, and the assured may recover from the insurer any expenses properly incurred pursuant to the clause, notwithstanding that the insurer may have paid for a total loss, or that the subject-matter may have been warranted free from particular average, either wholly or under a certain percentage. (2) General average losses and contributions and salvage charges, as defined by this Act, are not recoverable under the suing and labouring clause. (3) Expenses incurred for the purpose of averting or diminishing any loss not covered by the policy are not recoverable under the suing and labouring clause. (4) It is the duty of the assured and his agents, in all cases, to take such measures as may be reasonable for the purpose of averting or minimising a loss.

Multimodal Transportation of Goods Act, 1993 Section 23

Title: General Average

State: Central

Year: 1993

Notwithstanding anything contained in any other provision of this Act, it shall be lawful for the parties to the multimodal transport contract to include in the multimodal transport document any provision relating to general average. Explanation.--For the purposes of this section, "general average" means loss, damage or expense reasonably incurred in order to avert danger to property in common peril and in the common interest involved in the multimodal transportation.

Indian Stamp Act, 1899 Section 22

Title: Effect of Statement of Rate of Exchange or Average Price

State: Central

Year: 1899

Where an instrument contains a statement, of current rate of exchange, or average price, as the case may require, and is stamped in accordance with such statement, it shall so far as regards the subject matter of such statement, be presumed, until the contrary is proved, to be duly stamped.

Karnataka Stamp Act, 1957 Section 22

Title: Effect of Statement of Rate of Exchange or Average Price

State: Karnataka

Year: 1957

Where an instrument contains a statement of current rate of exchange, or average price, as the case may require, and is stamped in accordance with such statement, it shall, so far as regards the subject-matter of such statement, be presumed, until the contrary is proved, to be duly stamped.