Ramer v. Reserve Loan Life Insurance
Appellate Court of Illinois
Appeal from the Municipal Court of Chicago; the Hon. Joseph Z. Uhlib, Judge, presiding. Heard in this court at the October term, 1918.
1Opinion of the CourtJustice MoSurely
By this appeal we are asked to determine whether interest on a “Loan Agreement” given by plaintiff to defendant should be simple or compound. The trial court held for simple interest, and defendant says this was error.
On September 22,1904, the defendant, a corporation of Indianapolis, Indiana, issued its policy upon the life of plaintiff, a resident of Chicago. The policy provided for the payment of a certain sum upon his death, and also that if all premiums were paid and the insured living on September 22, 1917, he would be entitled to certain-options, which included the right to surrender…
2Cases cited2 opinions
- Bowman v. NeelyIllinois Supreme Court · 1891
- Drury v. WolfeIllinois Supreme Court · 1890
3Cited by2 opinions
- Old Line Ins. Co. v. CommissionerUnited States Board of Tax Appeals · 1928
- Old Surety Life Insurance Co. v. MorrowSupreme Court of Oklahoma · 1944