Northwestern Mutual Life Ins. v. Barbour
Court of Appeals of Kentucky
Case 78 — PETITION EQUITY APPEAL PROM LOUISVILLE LAW AND EQUITY COURT. 1. Each policy requires as a condition precedent that it must be surrendered within six months after default in payment of premiums, freed of indebtedness to the company, before the right to a paid-up policy can accrue. This condition precedent was never performed.
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Case 78 — PETITION EQUITY APPEAL PROM LOUISVILLE LAW AND EQUITY COURT. 1. Each policy requires as a condition precedent that it must be surrendered within six months after default in payment of premiums, freed of indebtedness to the company, before the right to a paid-up policy can accrue. This condition precedent was never performed. Neither the Grigsby policy (10 Bush, 310), the Montgomery policy (14 Bush, 51), the Johnson policy (79 Ky., 403), the Eort policy (82 Ky., 269), nor the Montague policy (84 Ky., 659) contained a condition precedent to the accrual of the right. Such conditions…
1Opinion of the Court
CHIEP JUSTICE HOLT
delivered the- opinion ot the court.
December 11, 1878, the appellant, an insurance company doing business on the mutual plan, issued a policy *430■upon the life of James P. Barbour for $5,000, upon the ten-payment life plan, calling for a semi-annual premium of $111.30, payable in December and June of each year.
The premiums were paid for six years and six months, carrying the policy to June 11, 1885. The insured, instead of paying the’ premium then due, through the company’s indulgence gave his note for it. December 11, 1885, when the year’s business ended, he was entitled to a…
2Cases cited6 opinions
- Montgomery v. Phoenix Mutual Life InsuranceCourt of Appeals of Kentucky · 1878
- St. Louis Mutual Life Insurance v. GrigsbyCourt of Appeals of Kentucky · 1874
- Johnson v. Southern Mutual Life InsuranceCourt of Appeals of Kentucky · 1881
- North-western Mut. Life Ins. v. Fort's Adm'rCourt of Appeals of Kentucky · 1884
- Southern Mutual Life Insurance v. MontagueCourt of Appeals of Kentucky · 1887
1 more not listed; retrieve them via the Exa API.
3Cited by9 opinions
- Cravens v. New York Life InsuranceSupreme Court of Missouri · 1899
- Union Central Life Ins. v. SpinksCourt of Appeals of Kentucky · 1904
- Employer's Liability Assurance Corp. v. RochelleCourt of Appeals of Texas · 1896
- Manhattan Life Ins. v. PattersonCourt of Appeals of Kentucky · 1901
- Washington Life Insurance v. MilesCourt of Appeals of Kentucky · 1902
4 more not listed; retrieve them via the Exa API.