President, Directors of Oriental Bank v. Tremont Insurance
Massachusetts Supreme Judicial Court
Assumpsit to recover a balance alleged by the plaintiffs to be due on a policy of insurance. The case was submitted to the court on the following facts agreed : The defendants, by a policy dated August 16th 1838, caused Isaac Clapp, for whom it concerned, to be insured $ 2500, on a building in Boston, against loss by fire for one year.
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Assumpsit to recover a balance alleged by the plaintiffs to be due on a policy of insurance. The case was submitted to the court on the following facts agreed : The defendants, by a policy dated August 16th 1838, caused Isaac Clapp, for whom it concerned, to be insured $ 2500, on a building in Boston, against loss by fire for one year. When the policy was made, the plaintiffs had the legal title to said building, and the policy was in fact made to cover their interest; but this was not disclosed to the defendants, nor known by them, till they filed their answer in a trustee process, as…
1Opinion of the CourtHubbard, J.
The only question for the consideration of the court is, whether the defendants are bound to pay interest on the amount of the loss on the policy underwritten by them, from the time the same was payable by the terms of the policy, to wit, the 18th of February 1839, to the 15th day of May 1840, when they were discharged from the trustee process which had been pending against them, from the 19th of December 1838, to that time. The plaintiffs assume several positions, upon which they rely to charge the defendants with interest; and among others, that this was a contract to pay *6interest in sixty…
2Cases cited4 opinions
- Meeker v. GardellaWashington Supreme Court · 1890
- Prescott v. ParkerMassachusetts Supreme Judicial Court · 1808
- Fitzgerald v. CaldwellSupreme Court of Pennsylvania · 1793
- Fitzgerald v. CaldwellSupreme Court of the United States · 1793
3Cited by2 opinions
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- Glassman v. GlassmanNew York Court of Appeals · 1956