Suncorp Insurance and Finance v Milano Assicurazioni 
- An agent was authorised to conclude a large insurance deal, sharing responsibility between several insurance underwriters
- Was the defendant’s share of liability set at 20% in accordance with the insurance agreement or 32.5% in accordance with the treaty?
- Treaty takes precedence, 32.5%
- Inherently unlikely that percentages would be omitted in an agreement
- Contracting agents usually have the authority to enter into contracts
- The act preferring 32.5% was ratified by omission as the principal had knowledge of all material facts and assumed the agent had authority
Posted in Commercial Law Revision Notes.
This page was last updated on 31st December 2014