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Books > Law > International law > Public international law > International law of transport & communications > International maritime law
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Perils of the Seas and Inherent Vice in Marine Insurance Law (Paperback)
Loot Price: R1,262
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Perils of the Seas and Inherent Vice in Marine Insurance Law (Paperback)
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The Supreme Court ruling in Global Process System Inc. v Syarikat
Takaful Malaysia Berhad (The Cendor MOPU) created a shock wave in
the London marine insurance market, as the Supreme Court decision
changed the boundaries of doctrine with respect to the meaning of
'perils of the sea' and 'inherent vice'. Both phrases play an
important role in the insurance market, affecting both assureds and
insurers and their respective interests under all classes of marine
insurance policies. This book reviews the origin of the clauses
'perils of the sea' and 'inherent vice' by tracing back through the
early cases in order to understand the origin and noting how and
why the changes occurred. It will examine how the law has been
developed in the recent cases and discuss whether the Supreme Court
case The Cendor MOPU has overruled the previous cases in terms of
the clauses 'inherent vice' and 'perils of the sea'. Considering
the impact of The Cendor MOPU decision with respect to the Marine
Insurance Act 1906, as well as the standard Institute Cargo
Clauses, it evaluates whether the decision is consistent with these
things and discusses the effect of the decision on recent cases and
on the insurance market.
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