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-207§ 3354. Representation as to future A representation as to the future is a promise, unless it is merely a statement of a belief or an expectation. § 3355. Effect upon policy A representation can not qualify an express provision in a contract of insurance; but it may qualify an implied warranty. § 3356. Alteration or withdrawal A representation may be altered or withdrawn before the insurance is effected, but not afterwards. § 3357. Time intended by representation The completion of the contract of insurance is the time to which a representation must be presumed to refer. § 3358. Representation upon hearsay When a person insured has no personal knowledge of a fact, he may nevertheless repeat information which he has upon the subject, and which he believes to be true, with the explanation that he does so on the information of others; or he may submit the information, in its whole extent, to the insurer. In either case, he is not responsible for its truth, unless it proceeds from an agent of the insured, whose duty it is to give the information. § 3359. Falsity A representation is false when the facts fail to correspond with its assertions or stipulations. § 3360. Effect of material false representation If a representation is false in a material point, whether affirmative or promissory, the injured party may rescind the contract from the time when the representation becomes false. § 3361. Materiality The materiality of a representation is determined by the same rule as the materiality of a concealment. Article C—Miscellaneous Provisions § 3371. Application of subchapter This subchapter applies as well to a modification of a contract of insurance as to its original formation. Subchapter VI—The Policy Article A—General Provisions § 3391. Definition of policy of insurance The written instrument, in which a contract of insurance is set forth, is called a policy of insurance. § 3392. Required contents of policy A policy of insurance must s p e c i f: (1) the parties between whom the contract is made; (2) the property or life insured; (3) the interest of the insured in property insured, if he is not the absolute owner thereof; (4^ the risks insured against; (6) the period during which the insurance is to continue; and (6) either: (A) the rate of premium; or
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