American Trust Co. v. Life Insurance
Supreme Court of North Carolina
Civil actiok, tried before Cline, J., at the February Term, 1917, of Meoklek bueg. This is an action to recover $10,000, the amount of a policy of insurance issued by the defendant upon the life of Harvey Lambeth, in favor of the plaintiff, on 4 March, 1913. The policy contained the following clauses, among others: “This policy shall not take effect until the first premium is paid, or unless on the date of said payment the insured is alive and in sound health…
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Civil actiok, tried before Cline, J., at the February Term, 1917, of Meoklek bueg. This is an action to recover $10,000, the amount of a policy of insurance issued by the defendant upon the life of Harvey Lambeth, in favor of the plaintiff, on 4 March, 1913. The policy contained the following clauses, among others: “This policy shall not take effect until the first premium is paid, or unless on the date of said payment the insured is alive and in sound health Incontestability. — The incontestable clause provides: “This policy shall be incontestable after one year from its date, except for…
1Opinion of the CourtAlleN, J.
The principal contentions of the defendant are:
1. That the plaintiff and the insured were partners when the policy was issued, and as such the plaintiff had no insurable interest in the life of the insured, and that, therefore, the contract of insurance is a wagering or gambling contract.
2. That the insured was not in good health at the time of the delivery of the policy of insurance, and that, therefore, the contract of insurance was never in force under the terms of the policy.
3. That the defendant rescinded the contract of insurance within twelve months after it was issued and tendered a…
2Cases cited33 opinions
- National Bank v. Insurance Co.Supreme Court of the United States · 1878
- Massachusetts Benefit Life Ass'n v. RobinsonSupreme Court of Georgia · 1898
- Insurance Co. v. BaileySupreme Court of the United States · 1871
- Liverpool & London & Globe Insurance v. KearneySupreme Court of the United States · 1901
- Cable v. United States Life InsuranceSupreme Court of the United States · 1903
28 more not listed; retrieve them via the Exa API.
3Cited by78 opinions
- American Life Insurance v. StewartSupreme Court of the United States · 1937
- Killian v. Metropolitan Life InsuranceNew York Court of Appeals · 1929
- N.Y. Life Ins. Co. v. Brandwene Et Ux.Supreme Court of Pennsylvania · 1934
- Jefferson Standard Life Ins. v. KeetonCourt of Appeals for the Fourth Circuit · 1923
- Stiegler v. Eureka Life InsuranceCourt of Appeals of Maryland · 1925
73 more not listed; retrieve them via the Exa API.