chapter  24
36 Pages


J; Gernon v Royal Exchange Ass (1815) 6 Taunt 383, 387, per Gibbs CJ (no right to judge the state of the markets and whether they are rising or falling); Hudson v Harrison (1821) 3 Brod & B 97, 106; MR Currie & Co v Bombay Native Ins Co (1869) LR 3 PC 72, 79; Kaltenbach v Mackenzie (1878) 3 CPD 467, 480, per Cot-

having forgone his opportunity to claim for a total loss. If the assured considers it appropriate to treat the loss as a partial loss only, and it subsequently transpires that the cost of repairs exceeds the value of the subject matter, he cannot change his mind and claim for a total loss.48