Provident Savings Life Assurance Society v. Georgia Industrial Co.
Supreme Court of Georgia
Injunction. Before Judge Pendleton. Fulton superior court-June 14, 1905. On March 25, 1904, the Georgia Industrial Company borrowed $40,000 from the Provident Savings Life Assurance Society, giving its promissory note for that sum, payable three years after date,, and secured by a loan deed covering a tract of land in Hancock county.
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Injunction. Before Judge Pendleton. Fulton superior court-June 14, 1905. On March 25, 1904, the Georgia Industrial Company borrowed $40,000 from the Provident Savings Life Assurance Society, giving its promissory note for that sum, payable three years after date,, and secured by a loan deed covering a tract of land in Hancock county. This deed contained the following covenants: (I) So-long as the indebtedness or any part thereof remained unpaid, the-borrower was to pay all taxes, etc., and agreed “to keep the improve- ■ ments on said premises insured in company or companies acceptable to [the…
1Opinion of the CourtEvans, J.
(After stating the foregoing facts.) 1. It appears that shortly after the loan was negotiated, the Georgia Industrial Company delivered to the Assurance Society certain insurance policies, amounting in the aggregate to $13,000, containing a stipulation that any loss sustained thereunder should be payable to the Assurance Society, as its interest might appear. Some of these policies were issued by a firm of insurance agents without requiring the Georgia Industrial Company to first pay the premiums thereon. Subsequently repeated demands were made upon it to pay these premiums, which the company…
2Cases cited1 opinion
- Rounsavell v. CrofootAppellate Court of Illinois · 1879
3Cited by16 opinions
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- Jaudon v. Equitable Life Assurance Society of the United StatesSupreme Court of Florida · 1931
- McDonald v. North River InsuranceIdaho Supreme Court · 1923
- Hasbrouck v. Bondurant & McKinnonSupreme Court of Georgia · 1906
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