ABSTRACT

It is perhaps necessary at the outset to mention briefly that, unlike contract law, where a warranty amounts to nothing more than a term in a contract, the breach of which sounds in a remedy only for damages, a promissory warranty in marine insurance law is of much greater significance. In marine insurance, a warranty is promissory in nature and is, in fact, a promissory condition precedent, the non-fulfilment of which will automatically discharge the insurer from liability or, as the case may be, further liability, as from the date of breach.