SUPPRESSIO VERI. Concealment of truth.
2. In general a suppression of the truth, when a party is bound to disclose it, vitiates a contract. In the contract of insurance a knowledge of the facts is required to enable the underwriter to calculate the chances and form a due estimate of the risk; and, in this contract perhaps more than any other, the parties are required to represent every thing with fairness. 1 Bla. Rep. 594; 3 Burr. 1809.
3. Suppressio veri as well as suggestio falsi is a ground to rescind an agreement, or at least not to carry it into execution. 3 Atk. 383; Prec. Ch. 138; 1 Fonb. Eq. c. 2, s. 8; 1 Ball & Beatty, 241; 3 Munf. 232 1 Pet. 383; 2 Paige, 390 4 Bouv. Inst. n. 3841. Vide Concealment; Misrepresentation; Representation: Suggestio falsi.