Commonwealth v. National Insurance
Massachusetts Supreme Judicial Court
Petition of Loyal S. Pond alleging that the National Insurance Company (an insolvent corporation against whom proceedings had been taken under Gen. Sts. c. 58, § 6) made a policy of insurance dated February 10, 1872, whereby they caused the Atlantic Mail Steamship Company, for whom it concerns, payable to them or order, to be insured $2500 on the steamer Missouri against the perils therein mentioned, for one year from February 5, 1872; that the ship was totally lost by the…
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Petition of Loyal S. Pond alleging that the National Insurance Company (an insolvent corporation against whom proceedings had been taken under Gen. Sts. c. 58, § 6) made a policy of insurance dated February 10, 1872, whereby they caused the Atlantic Mail Steamship Company, for whom it concerns, payable to them or order, to be insured $2500 on the steamer Missouri against the perils therein mentioned, for one year from February 5, 1872; that the ship was totally lost by the perils insured against; that the receivers of the insurance company appointed by this court nod due notice of and allowed…
1Opinion of the CourtColt, J.
A policy of marine insurance was issued by the National Insurance Company to the Atlantic Mail Steamship Company by name, with the addition of the words “ for whom it concerns, payable to them or order.” There was a total loss, and the receivers of the insurance company claim the right to set off against their liability the amount due from the Atlantic Company at the time of the loss upon premium notes given upon other policies.
The petitioner, at the time the policy was issued, held a mortgage on the vessel therein insured, with a covenant that the company should keep it insured for the…
2Cases cited3 opinions
- Thompson v. CommonwealthCourt of Appeals of Kentucky · 1858
- Pearson v. LordMassachusetts Supreme Judicial Court · 1809
- Oldham v. BrannonCourt of Appeals of Kentucky · 1859
3Cited by1 opinion
- Ritson v. Atlas Assurance Co.Massachusetts Supreme Judicial Court · 1930