Howland v. Cuykendall
New York Supreme Court
THE claim of the plaintiff as receiver of the Hew York Protection Insurance Company, against the defendants, was referred, upon the application of the receiver, to G-. H. Lynch, in pursuance of “ An act to facilitate the closing up of insolvent and dissolved mutual insurance companies,” passed April 21, 1862. The claim was on a premium note dated August 3d, 1850, for $ 165, payable “ in such portions and at such time or times as the directors of said company may agreeably to…
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THE claim of the plaintiff as receiver of the Hew York Protection Insurance Company, against the defendants, was referred, upon the application of the receiver, to G-. H. Lynch, in pursuance of “ An act to facilitate the closing up of insolvent and dissolved mutual insurance companies,” passed April 21, 1862. The claim was on a premium note dated August 3d, 1850, for $ 165, payable “ in such portions and at such time or times as the directors of said company may agreeably to their charter and by-laws require.” The defendant’s policy, which was the consideration of the note, was for five…
1Opinion of the Court
By the Court, Allen, J.
The only objection to the recovery, taken upon this appeal, is founded upon the statute of limitations; and it is claimed that more than six years had elapsed after the accruing of the cause of action, before the commencement of these proceedings, November, 1862. The liability of the defendants, upon their note, was not absolute but was conditional, depending upon the necessities of the company, and the demand of its officers. They could only be called upon to pay on an assessment made to meet the exigencies of the company, and an assessment could only be made when…
2Cases cited1 opinion
- Savage v. . MedburyNew York Court of Appeals · 1859
3Cited by3 opinions
- Smith v. BellSupreme Court of Pennsylvania · 1884
- Raegener v. MedicusNew York Supreme Court · 1900
- Raegener v. MedicusAppellate Division of the Supreme Court of the State of New York · 1901