Riley v. Hartford Insurance Co.
Supreme Court of Connecticut
TIIIS was an action on a policy of insurance, on the brig Commerce, on a voyage from New-Orleans to Gibraltar, with liberty to go to Malaga and the Cupe áe Verds, for salt, and back to her port of destination in the United States; ami “ upon freight of all kinds of lawful goods and merchandizes, laden, or to be laden, on board said vessel.”
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TIIIS was an action on a policy of insurance, on the brig Commerce, on a voyage from New-Orleans to Gibraltar, with liberty to go to Malaga and the Cupe áe Verds, for salt, and back to her port of destination in the United States; ami “ upon freight of all kinds of lawful goods and merchandizes, laden, or to be laden, on board said vessel.” The policy contained the following clause: “ The said vessel, tackle, &c. for so much as concerns the assured, by agreement made between tee assured and assurers in this policy, are, and shall be valued at eight thousand dollars ; and the said goods and…
1Opinion of the Court
Swift, Ch. J.
It has been contended, that this was a valued policy for 2000 dollars on freight, because freight is of an uncertain nature, the profits of a voyage, and cannol be ascertained. But there is no resemblance in this respect, between freight and profits ; for freight is not only susceptible of being reduced to a certainty upon a valuation according to the well-known rate from place to place■ ; but the ship-owner, by a contract of charter-party, may entitle himself to a specific sum, while profits, from their very nature, are uncertain. It is evident, then, that the parties, if they…
2Cited by1 opinion
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