Where a contract of marine insurance is in good faith effected by one person on behalf of another, the person on whose behalf it is effected may ratify the contract even after he is aware of a loss.
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More sections of this act
Section 1 · Short title and commencement.Section 2 · Definitions.Section 3 · Marine insurance defined.Section 4 · Mixed sea and land risks.Section 5 · Lawful marine adventure.Section 6 · Avoidance of wagering contracts.Section 7 · Insurable interest defined.Section 8 · When interest must attach.India Code, Government of India. Text fetched 25 Oct 2026. Check the linked official text and subsequent notifications when applying a provision.