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Some particular things shall or shall not be done |
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Some condition shall be fulfilled. |
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He affirms or negatives existence of a particular state or facts. |
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It is the condition by the assured undertakes that
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A warranty must be complied with strictly and exactly. | ||||||
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Breach of warranty may render the insurer disclaiming liability. | ||||||
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Under some circumstances, some warranties may be waived by insurer. |
Warranty is of two types:
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Express warranty: Is one appearing in the policy therein by
reference. Generally starts with the words "warranted". eg. Warranted sailing within 7days. |
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Implied warranty: Is one which will not be in the policy but
understood and required by the law. Ship should be seaworthy. |
Updated: 12 October, 2007