Hope Mutual Life Insurance Co. v. . Perkins
New York Court of Appeals
' This case comes here upon an appeal from a judgment of the General Term of the Supreme Court of the city of Hew York, rendered against the defendant, affirming the judgment of the Special Term.
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' This case comes here upon an appeal from a judgment of the General Term of the Supreme Court of the city of Hew York, rendered against the defendant, affirming the judgment of the Special Term. The action was brought upon a subscription note of the defendant, of which the following is a copy: “ $2,500. Hew York, May 1,1847. “ Twelve months after date, or sooner if required, I promise to pay to the Hope Mutual Life Insurance Company of Stamford, Connecticut, or order, tyro thousand five hundred dollars, or such assessment thereon as the trustees find it necessary to impose for the purpose of…
1Opinion of the CourtGrover, J.
It is insisted by the counsel for the appellant that the plaintiff had no power to receive the note in suit for the purpose of creating a fund to secure the payment of losses incurred upon policies issued by the company, and that the note is therefore void. The respondent cannot insist that this power is conferred by section eighth of the charter. This section authorizes the company to receive notes of parties for premiums on policies thereafter to be issued, and makes notes thus received available in the hands of the company for payment of its liabilities, although the policies. have never…
2Cases cited1 opinion
- Hope Mutual Life Insurance v. WeedSupreme Court of Connecticut · 1859
3Cited by12 opinions
- Hurd v. . KellyNew York Court of Appeals · 1879
- Union Bank v. . SullivanNew York Court of Appeals · 1915
- Pine v. OkoniewskiAppellate Division of the Supreme Court of the State of New York · 1939
- Home Insurance v. North Western Packet Co.Supreme Court of Iowa · 1871
- Moore v. Rector of St. Thomas'New York Supreme Court · 1873
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