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Legal

strictions.

Where any sea insurance is made for a voyage and also for For to extend to or cover any time beyond thirty days after the shall have arrived at her destination and been there moored at chor, the policy is to be charged with duty as a policy for a voyage, and also with duty as a policy for time.

95.-(1.) A policy of sea insurance may not be stamped at any time after it is signed or underwritten by any person, except in the two cases following; that is to say,

(a.) Any policy of mutual insurance having a stamp impressed thereon may, if required, be stamped with an additional stamp provided that at the time when the additional stamp is required the policy has not been signed or underwritten to an amount exceeding the sum or sums which the duty impressed thereon extends to cover:

(b.) Any policy made or executed out of, but being in any manner enforceable within, the United Kingdom, may be stamped

at any time within ten days after it has been first received in the United Kingdom on payment of the duty only.

(2.) Provided that a policy of sea insurance shall for the purpose of production in evidence be an instrument which may legally be stamped after the execution thereof, and the penalty payable by law on stamping the same shall be the sum of one hundred pounds.

96. Nothing in this Act shall prohibit the making of any alteraalterations tion which may lawfully be made in the terms and conditions of any in policies may be policy of sea insurance after the policy has been underwritten; promade under vided that the alteration be made before notice of the determination certain re- of the risk originally insured, and that it do not prolong the time covered by the insurance thereby made beyond the period of six months in the case of a policy made for a less period than six months, or beyond the period of twelve months in the case of a policy made for a greater period than six months, and that the articles insured remain the property of the same person or persons, and that no additional or further sum be insured by reason or means of the alteration.1 Penalty on 97.—(1.) If any person― assuring unless policy duly stamped.

(a.) becomes an assurer upon any sea insurance, or enters into any contract for sea insurance, or directly or indirectly

1 At common-law a contract may be altered with the consent of the parties thereto. A material alteration made by one party, without the consent of the other, avoids the contract, and, if the alteration is made fraudulently, it may amount to forgery. As to the alterations which do or do not require a new stamp, see Arnould, Ed. 6, p. 267; McArthur, Ed. 2, pp. 47-49.

receives or contracts or takes credit in account
premium or consideration for any sea insurance, or
ingly takes upon himself any risk, or renders himself ì
the Insurances
to pay, or pays, any sum of money upon any loss, peril,
of certain
contingency relative to any sea insurance, unless the insurf
ance is expressed in a policy of sea insurance duly stamped, valid.

or

(b.) makes or effects, or knowingly procures to be made or effected, any sea insurance, or directly or indirectly gives or pays, or renders himself liable to pay, any premium, or consideration for any sea insurance, or enters into any contract for sea insurance, unless the insurance is expressed in a policy of sea insurance duly stamped, or

(c.) is concerned in any fraudulent contrivance or device, or is
guilty of any wilful act, neglect, or omission, with intent to

evade the duties payable on policies of sea insurance, or
whereby the duties may be evaded,

he shall for every such offence incur a fine of one hundred pounds.

(2.) Every broker, agent, or other person negotiating or transacting any sea insurance contrary to the true intent and meaning of this Act, or writing any policy of sea insurance upon material not duly stamped, shall for every such offence incur a fine of one hundred pounds, and shall not have any legal claim to any charge for brokerage, commission, or agency, or for any money expended or paid by him with reference to the insurance, and any money paid to him in respect of any such charge shall be deemed to be paid without consideration, and shall remain the property of his employer.

(3.) If any person makes or issues, or causes to be made or issued, any document purporting to be a copy of a policy of sea insurance, and there is not at the time of the making or issue in existence a policy duly stamped whereof the said document is a copy, he shall for such offence, in addition to any other fine or penalty to which he may be liable, incur a fine of one hundred pounds.

FIRST SCHEDULE.

risks not

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POLICY OF SEA INSURANCE

(1.) Where the premium or consideration does not exceed the rate of 2s. 6d. per centum of the sum insured

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£ s. d.

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an any other case

.) For or upon any voyage

In respect of every full sum of £100, and also
any fractional part of £100 thereby insured

(b.) For time—

In respect of every full sum of £100, and
also any fractional part of £100 thereby
insured-

Where the insurance shall be made for

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any time not exceeding six months. 0 0 3 Where the insurance shall be made for

any time exceeding six months and
not exceeding twelve months

And see §§ 91, 92, 93, 94, 95, 96, and 97.

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SALE OF GOODS ACT, 1893.

(56 & 57 VICT. c. 71.)

§ 20.-Unless otherwise agreed, the goods remain at the seller's facie passes risk until the property therein is transferred to the buyer; but when perty. the property therein is transferred to the buyer, the goods are at the buyer's risk, whether delivery has been made or not.

Duty of

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seller as to

insurance.

Provided that where delivery has been delayed through the fault of either buyer or seller, the goods are at the risk of the party in fault as regards any loss which might not have occurred but for such fault.

Provided also that nothing in this section shall affect the duties or liabilities of either seller or buyer as a bailee of the goods of the other party.1

§ 32 (3).—Unless otherwise agreed, where goods are sent by the seller to the buyer by a route involving sea transit, under circumstances in which it is usual to insure, the seller must give such notice to the buyer as may enable him to insure them during their sea transit, and, if the seller fails to do so, the goods shall be deemed to be at his risk during such sea transit.2

1 See notes to these provisions in Chalmers' Sale of Goods Act.
2 Ibid.

THE MERCHANT SHIPPING ACT, 1894.

(57 & 58 VICT. c. 60.)

§ 506.-An insurance effected against the happening, without the Insurances owner's actual fault or privity, of any or all of the events in respect of of certain risks not which the liability of owners is limited under this Part (VIII.) of this invalid. Act, shall not be invalid by reason of the nature of the risk.1

1 Part VIII. limits the liability of the owners of British ships. The object of this section is to make it clear that although the liability of a shipowner is limited, he is still at liberty to insure. See ante, p. 137, as to the saving in the Stamp laws for this provision.

APPENDIX II.-NOTES.

NOTE A.-DEFINITIONS OF MARINE INSURANCE.

THE following definitions of marine insurance may be referred to :— 1. "Marine insurance is a contract whereby one party, for a stipulated sum, undertakes to indemnify the other against loss arising from certain perils or sea risks to which his ship, merchandise, or other interest may be exposed during a certain voyage or a certain period of time." Arnould, Ed. 6, p. 16.

2. "Marine insurance is a contract whereby one party, for a specified consideration agrees to indemnify another who is interested in property exposed to marine risks, against loss incidental thereto." McArthur, Ed. 2, p. 1.

3. "Marine insurance is a contract whereby for a consideration stipulated to be paid by one interested in a ship, freight, or cargo subject to marine risks, another undertakes to indemnify him against some or all of those risks during a certain period or voyage." Phillips on Insurance, § 1 (U.S.).

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4. Assurance maritime, c'est un contrat par lequel l'un des contractants se charge des risques et fortunes de mer que doivent courir un vaisseau, ou les marchandises qui y doivent être chargées, et promet en indemniser l'autre contractant pour une certaine somme que celui-ci lui donne pour le prix du risque dont il se charge.” Pothier, Traité du Contrat d'Assurance, § 4.

After fancifully comparing insurance to a contract of sale in which the assured buys from the insurer an indemnity from risk, Pothier proceeds to classify the contract by describing it as (a) consensual, (b) synallagmatic, for it gives rise to reciprocal obligations, (c) aleatory, not commutative, and (d) universal, i.e. du droit des gens.

5. "L'assurance est un contrat par lequel on promet indemnité des choses qui sont transportées par mer, moyennant un prix convenu entre l'assuré qui fait ou fait faire le transport et l'assureur qui prend le péril sur soi et le charge de l'événement. Cette définition est tirée du Guidon de la mer et de la doctrine de tous nos auteurs." Emerigon, Ch. I.

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