–206–
-206§ 3334. Required inquiry Except in answer to the inquiries of the other, neither party to a contract of insurance is bound to communicate information of matters: (1) which the other knows; (2) which, in the exercise of ordinary care, the other ought to know, and of which the former has no reason to suppose him ignorant; (3) of which the other waives communication; (4) which prove or tend to prove the existence of a risk excluded by a warranty, and which are not otherwise material; and (5) which relate to a risk excepted from the policy, and which are not otherwise material. § 3335. Test of materiality Materiality is to be determined not by the event, but solely by the probable and reasonable influence of the facts upon the party to whom the communication is due, in forming his estimate of the disadvantages of the proposed contract or in making his inquiries. § 3336. Presumed knowledge Each party to a contract of insurance is bound to know all the: (1) general causes which are open to his inquiry equally with that of the other, and which may affect either the political or material perils contemplated; and (2) general usages of trade. § 3337. Waiver of communication The right to information of material facts may be waived, either by: (1) the terms of the insurance; or (2) neglect to make inquiries as to such facts, where they are distinctly implied in other facts of which information is communicated. § 3338. Interest of insured Information of the nature or amount of the interest of one insured need not be communicated unless in answer to an inquiry, except as prescribed by section 3392 of this title. § 3339. Fraudulent concealment An intentional and fraudulent omission, on the part of one insured, to communicate information of matters proving or tending to prove the falsity of a warranty, entitles the insurer to rescind. § 3340. Matters of opinion Neither party to a contract of insurance is bound to communicate, even upon inquiry, information of his own judgment upon the matters in question. Article B—Representations § 3351. Oral or written A representation may be oral or written. § 3352. Time of making A representation may be made at the time of, or before, issuance of the policy. § 3353. Rules of interpretation The language of a representation is to be interpreted by the same rules as those applied to contracts in general.
�
