Miner v. Judson
New York Supreme Court
The plaintiff brought this action as the receiver of the Jamestown Farmers’ Insurance Company, upon a premium note made and delivered by the defendant to that company on the 20th day of August, 1853. The note was made and delivered in consideration of a policy of insurance, issued by the company to the defendant, upon a printing press, type, furniture, stock and materials owned by him, and situated in Randolph, in the county of Cattaraugus.
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The plaintiff brought this action as the receiver of the Jamestown Farmers’ Insurance Company, upon a premium note made and delivered by the defendant to that company on the 20th day of August, 1853. The note was made and delivered in consideration of a policy of insurance, issued by the company to the defendant, upon a printing press, type, furniture, stock and materials owned by him, and situated in Randolph, in the county of Cattaraugus. By this policy, the company insured the defendant against loss and damage hy fire upon such property, to the amount of $'750 for the period of five years.…
1Opinion of the Court
By the Court
— Daniels, J.
The sole, consideration for the defendant’s note to the company was the agreement contained in the policy, to insure his property; and when that was terminated by a sale of the subject of the insurance it was con*303templated by the charter that the liability of the company under its agreement should cease, and that the defendant should incur no liability to contribute to the payment of losses occurring after that time. By the express provisions of the charter he continued to be a member of the company only so long as he continued to be insured by it. And when the…
2Cases cited1 opinion
- Chapman v. GatesNew York Supreme Court · 1866