Utica Insurance v. American Mutual Insurance
New York Supreme Court
This was an action upon a policy of insurance against fire, which the defendants had issued to the plaintiffs, to re-insure them, on a risk which the plaintiffs had previously taken upon the property insured. The cause was tried at the Oneida circuit, in June, 1852, before Justice Harris, without a jury.
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This was an action upon a policy of insurance against fire, which the defendants had issued to the plaintiffs, to re-insure them, on a risk which the plaintiffs had previously taken upon the property insured. The cause was tried at the Oneida circuit, in June, 1852, before Justice Harris, without a jury. The plaintiffs introduced and read in evidence a stipulation signed by the counsel for the defendants, by which it was admitted, 1. That on or about the 13th January, 1852, the proofs of loss were forwarded by the plaintiffs to the defendants and received by them. 2. That said proofs were…
1Opinion of the Court
By the Court, Gridley, J.
All the objections to the recovery were given up by the defendants’ counsel, except that founded *176on the 16th section of the act of 1849. (Laws of 1849, p. 448.) That section provides that the corporation may sue its stockholders ; and that “ suits at law may be prosecuted by any stockholder, against such corporation, for losses which may have accrued (if payment is withheld more than two months,) in all risks after such losses shall have .become due.” The word due has two meanings. The one indicates a debt ascertained and fixed, though payable in futuro ; and the…
2Cited by3 opinions
- Allen v. Hudson River Mutual InsuranceNew York Supreme Court · 1854
- Putze v. Saginaw Valley Mutual Fire-InsuranceMichigan Supreme Court · 1903
- Putze v. Saginaw Valley Mutual Fire-InsuranceMichigan Supreme Court · 1903