A Treatise On Belgian Law: Containing a Complete Translation of the Entire ...
A Treatise On Belgian Law: Containing a Complete Translation of the Entire ...
Belgium, Todd, Ernest
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If the insurance has for its object goods to be sent out and back, and if the ship having arrived at her first destination does not take on board a return cargo, or if the return cargo is not complete, the assared shall receive only two-thirds of the agreed premium, in the absence of provision to the contrary. Art. 187 (339). When the insurance is upon goods, the valua- tion shall be made upon the basis of their value at the time and at the place of their being loaded, all the expenses incurred... up to the time of loading being added thereto, together with the premium of insurance and incidental expenses. The value of the hulk, keel, tackle, and apparel of a ship shall be ascertained by reference to their value upon the day when the risks commenced to run. The valuation of the provisions, the equipment and all other things which can be estimated in money, shall be made according to their value at the places, and at the times when the risks commenced to run. Art. 188 (357). A contract of insurance or of re-insurance agreed upon for a sum exceeding the value of the goods assured shall be void as far as regards the assured, only should it be proved that there is fraud or misrepresentation on his part.
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