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1. Affirmative which is an affirmation of a fact existing when the contracts begins; or
2. Promissory which is a statement by the insured concerning what is to happen during
the term of the insurance.
NOTE: If there is misrepresentation, the injured party is entitled to rescind from the time when the
representation becomes false. The right to rescind must be exercised previous to the commencement of an action on the contract (the action referred to is that to collect a claim on the contract)
2. Promissory which is a statement by the insured concerning what is to happen during
the term of the insurance.
NOTE: If there is misrepresentation, the injured party is entitled to rescind from the time when the
representation becomes false. The right to rescind must be exercised previous to the commencement of an action on the contract (the action referred to is that to collect a claim on the contract)
