Omaha Nat. Bank v. Mutual Ben. Life Ins.
U.S. Circuit Court for the District of New Jersey
In pursuance of a stipulation in writing waiving a jury, this cause was tried by the court without the intervention of a jury on the 20th day of April, 1897. And now, this 16th day of June, 1897, upon due consideration the court finds the following stated facts: (1) This is an action by the Omaha National iBank, as assignee of Frank O. Johnson, to recover $20,000, the amount insured by the defendant under its two policies, numbered respectively 165,03!) and 165,040, each…
Read the full summary
In pursuance of a stipulation in writing waiving a jury, this cause was tried by the court without the intervention of a jury on the 20th day of April, 1897. And now, this 16th day of June, 1897, upon due consideration the court finds the following stated facts: (1) This is an action by the Omaha National iBank, as assignee of Frank O. Johnson, to recover $20,000, the amount insured by the defendant under its two policies, numbered respectively 165,03!) and 165,040, each dated January 15, 1891, and providing that in consideration of the payment of the annual premium of $359.40 on each…
1Opinion of the Court
ACHESON, Circuit Judge.
1. It is -contended on behalf of the plaintiff that there was no “indebtedness to the company on this policy” to be deducted from its net reserve within the meaning of the non-forfeiture provisions, and therefore that the extended insurance wms for the full term of 3 years and 258 days from November 11, 1893, the date of the lapse, which would carry the term insurance beyond the date of the death of the insured. The plaintiff insists that the “indebtedness” mentioned and provided for in the nonforfeiture provisions is indebtedness for loans made in cash by the company…
2Cases cited1 opinion
- Stockwell v. United StatesSupreme Court of the United States · 1871
3Cited by6 opinions
- Hay v. Meridian Life & Trust Co.Indiana Court of Appeals · 1913
- Schoonover v. Prudential Insurance Co. of AmericaSupreme Court of Minnesota · 1932
- Gillen v. New York Life InsuranceMissouri Court of Appeals · 1913
- In re the Estate of EllisOrphan's Court of Delaware · 1939
- Equitable Life Assurance Society of the United States v. DeLisleMissouri Court of Appeals · 1916
1 more not listed; retrieve them via the Exa API.