The People v. . Knickerbocker Life Ins. Co.
New York Court of Appeals
Appeal from, order of the General Term, of the Supreme Court, in the first judicial depai’tment, made May 13, 1886, which affirmed an order of Special Term, sustaining exceptions to a referee’s report and dismissing the claim of J'ane "Wright, appellant, presented to the receiver of the defendant appointed in this action.
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Appeal from, order of the General Term, of the Supreme Court, in the first judicial depai’tment, made May 13, 1886, which affirmed an order of Special Term, sustaining exceptions to a referee’s report and dismissing the claim of J'ane "Wright, appellant, presented to the receiver of the defendant appointed in this action. Defendant issued to the claimant a policy of insurance upon the life of her husband which contained a clause providing for its surrender and the issuing of a new policy. The claim was upon a new policy issued in pursuance of this clause. The original policy contained a…
1Opinion of the CourtAndrews, J.
The words “non-forfeiture policy ” were conspicuously printed on the original policy. But a reference to the body of the policy shows that it was not intended to make the policy non-forfeitable except in a limited sense. The assured was not relieved from the obligation to pay the premium annually on the day specified. By the express terms of the contract an omission to pay the premium on the day it became due avoided the policy. But if at the time of such omission he had paid two or more premiums, the company bound itself to issue a new policy for as many tenths of the original insurance as…
2Cases cited1 opinion
- New York Life Insurance v. StathamSupreme Court of the United States · 1876
3Cited by3 opinions
- Holly v. . Metropolitan Life Ins. Co.New York Court of Appeals · 1887
- Fowler v. . Metropolitan Life Ins. Co.New York Court of Appeals · 1889
- Hammond v. Volunteer State Life InsuranceCourt of Appeals of Georgia · 1933