"the true principle of sound ethics is, to give the contract the sense in which the person making the promise believed the other party to have accepted it".
“We find that there is yet another scholarly enunciation which says “the true principle of sound ethics is, to give the contract the sense in which the person making the promise believed the other party to have accepted it”. We are therefore of the view that it would be unjust to pronounce as if the insurance policy had no valid operation on the date of the loss.
We are therefore satisfied that the claim deserves acceptance under the coverage as permissible and enunciated in the terms of the policy.”
“We therefore allow this complaint for a sum of Rs.2,35,81,470/- together with an interest of 6% per annum thereon with effect from the date of the filing of the complaint before this Commission on 07.10.2016 up-to the date of actual payment within three months. In the event of default, the rate of interest shall stand enhanced to 9%.”
Judgement can be accessed here