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Report No. 21

Clause 32

General.-This deals with the effect of receipt on the policy. Notes to an earlier section may also be seen.1

Form of acknowledgment.-The usual form of acknowledgment is: "Paid the consideration due unto him (the underwriter) for this insurance by the assured at and after the rate " The reason why it is not conclusive between the assured and the broker is, that it is the broker who has an action against the assured, and hence an estoppel between the insurer and the assured cannot operate between the assured and the broker.2

1. See notes under section 53 of the English Act-clause 31.

2. Lord Chorley Law of Shipping, 3rd Edn., p. 338.

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