Note 35 — Chapter XII · On Contracts.
A. C. (Archibald Colin) Campbell translation
"Insurances being contracts, the very essence of which consists in observing the purest good faith and integrity, they are vacated by any the least shadow of fraud or undue concealment; and, on the other hand, being much for the benefit and extension of trade, by distributing the loss or gain among a number of adventurers, they are greatly encouraged and protected both by common law and acts of parliament."—Blackst. Com. b. ii. ch. 30. p. 460.
"The contract of insurance is founded upon the purest principles of morality and abstract justice. Hence it is necessary that the contracting parties should have perfectly equal knowledge or ignorance of every material circumstance respecting the thing insured. If on either side there is any misrepresentation or allegatio falsi, or concealment, or suppressio veri, which would in any degree affect the premium, or the terms of the engagement, the contract is fraudulent and absolutely void."—Christian's note on the same passage.