On The Principle Of Strict Compliance Of Warranty In The Regime Of Marine Insurance Law

The paper makes a careful study on warranty's principle of strict compliance in marine insurance law.Chapter One analyses the development of warranty in Britain from the viewpoint of history. The author points out that the principle has been widely accepted in spite of the fact that there have been many disputes on it.Chapter Two analyses the principle from many points. Firstly, the author analyses the principle from the point of the principle of utmost goodfaith,and points out that warranty is one aspect of the principle of the utmost goodfaith; Secondly, the author discusses the warranty's principle of strict compliance from a systematical viewpoint, and points out that the principle itself includes relative contents; Thirdly, the author discusses the principle from the British and American practice, and points out that American's practice will come back to the principle of strict compliance in spite of the fact there have been many efforts to diminish the harshness of such breach, considering of the uniformity of law. Fourthly, the author discusses the fairness of the principle of strict compliance from the construction rules of the warranty, and points out that warranty is a subtle system in which qualified construction rules can satisfy the fairness of the law.Chapter Three analyses the principle from the point of the parties' defences.The author points out that the active defenses gained by the insurer are strictly confined ,although they can be given to the insurer in many cases. Lack of harsh consequence of breach of the warranty will disturb the subtle balances confirmed by Marine Insurance Act 1906. Besides that, the insurer's right to dissolution of insurance contract is also strictly confined. Summarily, the rights to active Defence gained by the insurer due to the insured's breach of warranty are not steady, and can be easily deprived of, due to many conditions they must subject to. Chapter Four discusses the reform in the principle of strict compliance from an international point. The author points out that a system without long practice of the market can not replace the position of one which has been fully examined by the market.Chapter Five points out that there are some fine qualities in our legislation in the matter of warranty. The author is against the attitude that the scholars will always criticize our law when there are new ideals introduced by some foreign experts.The paper's conclusion is to maintain the warranty's principle of strict compliance confirmed by Marine Insurance Act 1906, and to make full use of the fairness of the principle by some concrete measurers.