Hi, I need help with essay on INSURANCE LAW: By reference to case law, explain the following types of term which may be found in an insurance contract: A.A warranty; and B.A term descriptive of risk;

Hi, I need help with essay on INSURANCE LAW: By reference to case law, explain the following types of term which may be found in an insurance contract: A.A warranty; and B.A term descriptive of risk; and C.A condition precedent; and D.A collateral term. Paper must be at least 1250 words. Please, no plagiarized work!

Even though there are many aspects of insurance laws that are defined by warranties, set agreements and rules of insurance may often be considered without necessarily using the term ‘warranty’. This is in conjunction to the statement of the Viscount Finlay who claimed that ‘warranty’ may sometimes be ignored while the meaning is retained for a certain set of insurance policies (Dawsons Ltd v Bonnin (1922) 2 AC 413).

There is no specific way of creating warranties and the term can sometimes be ignored. However, the language used to define the warranty should be as unequivocal as possible so as to clearly show that the terms used are fundamental to the warranty contract. Therefore, for a term to be classified as a warranty, it must go to the root of the contract.

This is a type of warranty made in conjunction to the state of affairs present at the time of proposal meaning that the state of affairs generally exists at the time of warrantying. Subsequent change of affairs does not result to the breach of this warranty but only warrantying of the existing state of affairs as it is exactly when the proposal is completed. However, a breach occurs when his state of affairs was not exactly as he warranted at the time and this allows the insurer to terminate the contract right from the time it was concluded.

This is a warranty as to existing state of affairs being that this could not be considered to be mounting to a continuous obligation but instead an indication of the existing state of affairs which existed at the time the answers were given and therefore did not lead to a warranty that no eminent change would occur.

This is a type of warranty, commonly included in proposal forms in cases where the insured is an individual. This implies that it is the insured that attests that the given answers in the proposal form are true to the best of his knowledge. This warranty is only breached when the insured becomes