Leeds v. . the Mechanics' Insurance Company
New York Court of Appeals
This was an action upon a policy of insurance for $2000 upon the brig Tremont. It was on the third day of October, 1843, issued by the defendant, a corporation existing at Newark, New Jersey, through L. Gregory, its agent in the city of New York.
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This was an action upon a policy of insurance for $2000 upon the brig Tremont. It was on the third day of October, 1843, issued by the defendant, a corporation existing at Newark, New Jersey, through L. Gregory, its agent in the city of New York. By the written parts of the policy the insurance was specified to be “for and during the term of twelve calendar months, commencing on the fifth day of October, 1843, at noon, warranted not to use ports in Texas: each passage subject to its own average, free of average under seven and one-half per cent.” The printed portion of the policy continued as…
1Opinion of the CourtMason, J.
There are three classes of contracts for marine insurance, known as voyage policies, time policies and mixed policies. A voyage policy limits the risk from the port at which the risk commences to that to which the vessel is destined, as from London to Buenos Ayres; a time policy limits the risk by a certain period of time, as a month or year; a mixed policy combines the characteristics of both a voyage and a time policy, as where the vessel is insured for six months and at and from London to Buenos Ayres. The original policy in this case is a time policy, having no reference to any terminus a…
2Cases cited1 opinion
- Perkins v. Washington InsuranceCourt for the Trial of Impeachments and Correction of Errors · 1825
3Cited by8 opinions
- Chadsey v. . GuionNew York Court of Appeals · 1884
- Franklin Ins. v. HumphreyIndiana Supreme Court · 1879
- Lipschitz v. Napa Fruit Co.Court of Appeals for the Second Circuit · 1915
- United States v. Four Parcels of LandDistrict Court, S.D. New York · 1937
- 180 E. 79th St. Corp. v. BarbaCity of New York Municipal Court · 1957
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