In Contracts. A statement made by one of two contracting parties to the other, before or at the time of making the contract, in regard to some fact circumstance, or state of facts pertinent to the contract, which is influential In bringing about the agreement. In insurance. A collateral statement, either by writing not inserted in the policy or by parol, of such facts or circumstances, relative to the proposed adventure, as are necessary to be communicated to the underwriters, to enable them to form a just estimate of the risks. 1 Marsh. Ins. 450. The allegation of any facts, by the applicant to the Insurer, or vice versa, preliminary to making the contract, and directly bearing upon it, having a plain and evident tendency to induce the making of the policy. The statements may or may not be In writing, and may be either express or by obvious implication. Lee v. Howard Fire Ins. Co., 11 Cush. (Mass.) 324; Augusta Insurance A Banking Co. of Georgia v. Abbott, 12 Md. 348. In relation to the contract of insurance, there is an important distinction between a representation and a warranty. The former, which precedes the contract of insurance, and is no part of it, need be only materially true; the latter is a part of the contract, and must be exactly and literally fulfilled, or else the contract is broken and inoperative. Glendale Woolen Co. v. Protection Ins. Co., 21 Conn. 19, 54 Am. Dec. 309. In the law of distribution and descent. The principle upon which the issue of a deceased person take or inherit the share of an estate which their Immediate ancestor would have taken or inherited, If living; the taking or inheriting per stirpes. 2 Bl. Comm. 217, 517. In Seoteb law. The name of a plea or statement presented to a lord ordinary of the court of session, when his judgment is brought under review. False representation. A deceitful representation, or one contrary to the fact, made knowingly and with the design and effect of inducing the other party to enter into the contract to which it relates. Misrepresentation. An intentional false statement respecting a matter of fact, made by one of the parties to a contract, which is material to the contract and influential in producing it-Promissory representation. A term used chiefly in insurance, and meaning a representation made by the assured concerning what is to happen during the term of the insurance, stated as a matter of expectation or even of contract, and amounting to a promise to be performed after the contract has come into existence. New Jersey Rubber Co. v. Commercial Union Assur. Co., 64 N. J. Law, 580, 46 Atl. 777. Representation of persons. A fiction of the law, the effect of which is to put the representative in the place, degree, or right of the person represented. Civ. Code La. art. 894.
Law Dictionary – Alternative Legal Definition
(A) insurances. A representation is a collateral statement, either by writing not inserted in the policy, or by parol, of such facts or circumstances relative to the proposed adventure, as are necessary to be communicated to the underwriters, to enable them to form a just estimate of the risk. 2. A representation, like a warranty, may be either affirmative, as where the insured avers the existence of some fact or circumstance which may affect the risk; or promissory, as where he engages the performance of, something executory. 3. There is a material difference between a representation and a warranty. 4. A warranty, being a condition upon which the contract is to take effect, is always a part of the written policy, and must appear on the face of it. Whereas a representation is only a matter of collateral information or intelligence on the subject of the voyage insured, and makes no part of the policy. A warranty being in the nature of a condition precedent, must be strictly and literally complied with; but it is sufficient if the representation be true in substance, whether a warranty be material to the risk or not, the insured stakes his claim of indemnity upon the precise truth of it, if it be affirmative, or upon the exact performance of it, if executory; but it is sufficient if a representation be made without fraud, and be not false in any material point, or if it be substantially, though not literally, fulfilled. A false warranty avoids the policy, as being a breach of the condition upon which the contract is to take effect; and the insurer is not liable for any loss though it do not happen in consequence of the breach of the warranty; a false representation is no breach of the contract, but if material, avoids the policy on the ground of fraud, or at least because the insurer has been misled by it. Concealment; Misrepresentation. (B) Scotch law. The name of a plea or statement presented to a lord ordinary of the court of sessions, when his judgment is brought under review.