Commonwealth v. Mechanics' Mutual Fire Insurance
Massachusetts Supreme Judicial Court
Petition in equity by Samuel G. Reed against John E. Sandford and Solomon Hovey, receivers of the defendant cor-, poration, praying that they might be ordered to return the premiums received by the company upon certain policies, and might be restrained from collecting assessments laid on said policies, and the deposit notes given on the same.
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Petition in equity by Samuel G. Reed against John E. Sandford and Solomon Hovey, receivers of the defendant cor-, poration, praying that they might be ordered to return the premiums received by the company upon certain policies, and might be restrained from collecting assessments laid on said policies, and the deposit notes given on the same. Hearing before Morton, J., who reported the case for the consideration of the full court in substance as follows : The petitioner had several policies in the company, which expired on October 1, 1872, and on or before that date the petitioner and the…
1Opinion of the CourtAmes, J.
The petitioner, with full knowledge of the fact that the insurance company had suffered heavily by the fire, came to the conclusion to accept the new policies which had been prepared for him upon his application, upon or before the first day of the previous October. The meaning of his application was that he desired to renew and continue his former insurance. After making such inquiry as he saw fit, he paid the premiums and gave the deposit notes dated October 1, 1872, and accepted the policies of the same date. The effect of this arrangement, primd facie, and if not explained or rebutted,…
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