insurer on the ground that a statement made in the proposal
for insurance or in any report of a medical officer, or referee, or friend ... a valid contract is free consent. When consent to an
agreement is caused by fraud or misrepresentation, the agreement is
a contract voidable
premium.
24. Contract of insurance is of utmost good faith a class of contract in which the party has a preliminary duty to disclose material ... subject matter to the other party. Non-disclosure makes the contract voidable. In a contract of insurance the knowledge of many material facts which
kept invested in
fixed deposits in a nationalized bank (emphasis supplied). As
and when fees fall due for a semester/year can be withdrawn ... make contract void or even voidable. A consumer
Forum has no jurisdiction to strike down a condition in the
contract howsoever unreasonable it may appear
influence the
decision of a prudent insurer in deciding as to
whether or not to accept a risk is a material
fact. As this Court ... a clear presumption that any
information sought for in the proposal form
is material for the purpose of entering into a
contract of insurance
considered as a breach of the duty of good faith and will render the
policy voidable by the insurer. So, there is a clear presumption ... proposal form is material for the
purpose of entering into a contract of insurance.
21. That, the insurance company has also produced the Kokilaben
Dhirubhai
purpose of entering
into a contract of insurance."
11. ......the failure of the insured to disclose a previous
insurance policy as required under ... influence the decision of a prudent
insurer in deciding as to whether or not to accept a risk is
a material fact. As this Court
influence the decision of a prudent
insurer in deciding as to whether or not to accept a risk is a material fact.
As this Court ... a clear presumption
that any information sought for in the proposal form is material for the
purpose of entering into a contract of insurance
submissions of
parties. It is well known that the contract of insurance is a
contract of utmost good faith on both sides which is defined ... contract to
Akshay CC/62/16 Page 10 of 13
the other party failing which, the insurance contract is voidable on
the ground of suppression
supporting evidence. That the contract of insurance is a
contract of good faith, wherein both the parties enters into contract
in good faith and relying ... suppressed or
not disclosed true facts before the other party, such contract is
voidable. Even otherwise the order passed by the Ld. District
Commission
premium amounting toRs.25,000.00 was proposed to be paid annually for a period of 20 years. It is pertinent to note that ... basis of the insurance contract should be disclosed correctly, otherwise the policy issued might stand void or voidable. The DLI in this case fully understood
