Jaeckel v. American Credit Indemnity Co.
Appellate Division of the Supreme Court of the State of New York
Appeal from judgment on report of referee. Action by Hugo Jaeckel against the American Credit Indemnity Company of Hew York. From a judgment entered on the decision of a referee for plaintiff, defendant appeals.
Read the full summary
Appeal from judgment on report of referee. Action by Hugo Jaeckel against the American Credit Indemnity Company of Hew York. From a judgment entered on the decision of a referee for plaintiff, defendant appeals. This action is brought upon a policy of credit insurance, which guaranties “the said indemnified against loss to the extent of and not exceeding fifteen thousand dollars, resulting from insolvency of debtors over and above a net loss of thirty-seven hundred and fifty dollars, first to be borne by the said indemnified on total gross sales and deliveries of goods, wares, or merchandise…
1Opinion of the CourtO’Brien, J.
This appeal is brought upon disputed construction and interpretation of the conditions of the policy, and not upon disputed facts. The first construction called for is as to condition 4 of the policy, which states:
“Proof of loss must be made * * * within twenty days after knowledge of the insolvency of any debtor shall have been received by the indemnified; * * * otherwise such claim shall be barred.”
The appellant holds that, as such notice was not given of the failure of Lally & Collins, the loss thereby incurred should be excluded from consideration in the settlement of liability. The…
2Cases cited1 opinion
- American Credit Indemnity Co. v. WoodCourt of Appeals for the Second Circuit · 1896
3Cited by1 opinion
- Strouse & Bros. v. American Credit-Indemnity Co.Court of Appeals of Maryland · 1900