Duncan v. China Mutual Insurance
The Superior Court of the City of New York and Buffalo
Appeal from trial term. Action by William Butler Duncan, Jr., against the China Mutual Insurance Company upon a policy of insurance issued by the defendant July 28, 1888, upon the steam-ship Samana, which then belonged to the Samana Steam-Ship Company. The plaintiff owned all the stock of this company, except a nominal amount of $25, which was held by five persons to satisfy some requirement of the English law.
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Appeal from trial term. Action by William Butler Duncan, Jr., against the China Mutual Insurance Company upon a policy of insurance issued by the defendant July 28, 1888, upon the steam-ship Samana, which then belonged to the Samana Steam-Ship Company. The plaintiff owned all the stock of this company, except a nominal amount of $25, which was held by five persons to satisfy some requirement of the English law. He was the' managing owner, and, for practical purposes, the company. The vessel was valued in the policy at $45,000. The amount insured by the defendant was $5,000. In October, 1888,…
1Opinion of the CourtMcAdam, J.
The contract was one of indemnity, and the defendant by its valued policy agreed that in case the steam-ship Samana was lost at sea it would pay to the Samana Steam-Ship Company, on account of whom it might concern, the sum of $5,000. The loss occurred within the life-time of the policy, and under "its provisions the obligation t'a pay became complete. The meaning and intention of the parties is apparent. The policy insures “W. B. Duncan, Jr., on account of whom it may concern, in case of loss, to be paid * * * to Samana Steam-Ship Company, Limited.” At the end of the policy is the following…
2Cases cited8 opinions
- Hooper v. RobinsonSupreme Court of the United States · 1879
- Waring v. . the Indemnity Fire Ins. Co.New York Court of Appeals · 1871
- Savage v. . Howard Insurance CompanyNew York Court of Appeals · 1873
- Hitchcock v. . the North Western Insurance CompanyNew York Court of Appeals · 1862
- Wakefield v. MartinMassachusetts Supreme Judicial Court · 1799
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3Cited by2 opinions
- Duncan v. New York Mut. Ins.The Superior Court of the City of New York and Buffalo · 1892
- Duncan v. New York Mutual InsuranceThe Superior Court of the City of New York and Buffalo · 1891