Chap 3 Legal Principles

Question 0

Utmost good faith - uberrime fidei

Answer 0

Duty to disclose. Misprep

Pan atlantic v pinetop - inducement of the risk

Question 1

Comsideration

Answer 1

Currie v Misa

Question 2

Utmost good faith case law

North star shipping v sphere drake

Answer 2

2 individs accused of fraud. Non disclosure.

Insurers avoidance upheld

Question 3

Waiver and estoppel

Answer 3

Kosmar villas v trustees of syndicate

Question 4

Proximate cause

Leyland shipping v norwich union fire

Answer 4

Most powerful
Dominant
Operative
Effective
Case - torpedo - storm - torpefo ongoing damage. War risk excluded. Claim decline upheld

Question 5

Proximate cause

Midlamd mainline v eaglestar

Answer 5

Bi policy, tracks damaged wear and tear. Speed slowed due tomtracks. Axx. Wear and tear found to be proximate clause. Wear and tear exluded

Question 6

Warranties

Bank of nova scotia - the good luck

Answer 6

Held that a breach of warranty terminated cover automaticaly from the date of breach

Question 7

Exclusions

The miss jay jay

Answer 7

Yacht damaged heavy seas. Policy covered by perils of the sea. Including bad weather. Ycht had defective design- was cause of loss. Policy didnt exclude defective design so was uninsured peril. Insurer was liable on ground that the interdependent causd was not specifically excluded