Braswell v. American Life Insurance
Supreme Court of North Carolina
Civil ActioN, tried before Moore, J., at May Term, 1876* of Edgecombe Superior Court. A jury being waived Ms Honor found the folowing facts: The plaintiff insured his life in the defendant company in "the sum of $2,000, and held a policy for that amount, the continued obligation of which was dependent upon the regular annual payment to defendant of a premium of $54.40. The policy bore upon its face the following condition : “And it is also agreed that this policy and the…
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Civil ActioN, tried before Moore, J., at May Term, 1876* of Edgecombe Superior Court. A jury being waived Ms Honor found the folowing facts: The plaintiff insured his life in the defendant company in "the sum of $2,000, and held a policy for that amount, the continued obligation of which was dependent upon the regular annual payment to defendant of a premium of $54.40. The policy bore upon its face the following condition : “And it is also agreed that this policy and the insurance hereby effected shall be subject to the several conditions and regulations printed on the back hereof, so far as…
1Opinion of the CourtPearson, C. J.
If the plaintiff was in default, by failing to pay the premium when due, he forfeited his policy and lost the amount before paid as premiums. If the defendant was in default, by cancelling the policy positively and peremptorily, the plaintiff has a right to recover back the amount paid as premium and interest thereon as “ money had and received for his use; ” or upon a promise of the defendant to indemnify and save him harmless, which the law implies from the "wrongful act of the defendant in the cancellation of the policy; in which case the measure of damage would be the amount necessary to…
2Cited by26 opinions
- Mutual Reserve Fund Life Ass'n v. FerrenbachCourt of Appeals for the Eighth Circuit · 1906
- Strauss v. Mutual Reserve Fund Life Ass'nSupreme Court of North Carolina · 1900
- Burch v. Americus Grocery Co.Supreme Court of Georgia · 1906
- Caldwell v. Insurance Co.Supreme Court of North Carolina · 1905
- Lovick v. Providence Life Ass'nSupreme Court of North Carolina · 1892
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