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What is a warranty in insurance law?

MCA Oral Exam Questions
Typography

A statement of fact at the time the contract was made, or a promise by the assured that something will or will not be done, or that some obligation will be fulfilled, during the period of insurance. The assured may, for example, give a warranty that the ship will trade only "within Institute Warranty Limits", and/or that it will be "classed LR and class maintained"

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