8: Warranties and other terms, void and illegal contracts, joint and composite insurance Flashcards Preview

CII: P05 Insurance Law > 8: Warranties and other terms, void and illegal contracts, joint and composite insurance > Flashcards

Flashcards in 8: Warranties and other terms, void and illegal contracts, joint and composite insurance Deck (1)
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NATURE OF WARRANTIES

Bank of Nova Scotia v. Hellenic Mutual War Risks Association (Bermuda) Ltd (The Good Luck) (1992)

(Warranties and Other Terms)

- House of Lords held that breach of a warranty terminated cover automatically from the date of breach and as a result terminated the insurance policy.

- House of Lords did not state that this rules applies to non-marine, but it has been assumed for subsequent cases.