Maine Mutual Marine Insurance v. Hodgkins
Supreme Judicial Court of Maine
On EXCEPTIONS AND MOTION. Assumpsit on a promisory note, set out in the opinion. Defense: — a conditional note, fraud in its inception, and failure of consideration.
Read the full summary
On EXCEPTIONS AND MOTION. Assumpsit on a promisory note, set out in the opinion. Defense: — a conditional note, fraud in its inception, and failure of consideration. Th'e plaintiff company in whose name the action was prosecuted by receivers for the benefit of the insured, was incorporated by an act of the legislature, March 16, 1870. Section 9, of their charter provides that “the company for the better security of those concerned may receive notes for premiums in advance of persons intending’ to receive policies, and may'negotiate such notes for the purpose of paying claims or otherwise in…
1Opinion of the CourtAppleton, C. J.
The defendants with fifty others signed the following agreement mai’ked A.:
“We the undersigned agree to advance our notes for premiums in advance to the Maine Mutual Insurance Company to the amount set against our names respectively, in accordance with the charter and by-laws of the company.”
The defendants signed for $1,000.
At a meeting of the plaintiff corporation on the 11th April, 1870, the defendant Hodgkins was voted in as a member of the corporation.
On 24th April, 1870, he gave the following note upon which this action is brought: $1,001. “Bangor, 26 April, 1870.
Eight months after date,…
2Cited by9 opinions
- New York Life Insurance v. McMasterCourt of Appeals for the Eighth Circuit · 1898
- McMaster v. New York Life Ins.Court of Appeals for the Eighth Circuit · 1899
- Hazard v. GriswoldU.S. Circuit Court for the District of Rhode Island · 1884
- Whitten v. Greeley-ShawSupreme Judicial Court of Maine · 1987
- New York Cent. & H. R. R. v. DifendafferCourt of Appeals for the Seventh Circuit · 1903
4 more not listed; retrieve them via the Exa API.