Which of the following statements about a warranty in an insurance contract is (are)true?
I.It is part of the insurance contract.
II.Statements made by an insurance applicant are considered warranties rather than representations.

Question

Quizplus · Accepted Answer

I is true because warranties are indeed part of the insurance contract, serving as conditions that must be met. II is incorrect because statements made by an insurance applicant are typically considered representations rather than warranties, with representations being statements believed to be true to the best of the applicant's knowledge, whereas warranties must be strictly true.

Which of the Following Statements About a Warranty in an Insurance