De Voss v. Johnson
New York Supreme Court
Motion to set aside a report of referees. On the 22d of July, 1848, De Voss & Hanenwinckel effected an insurance with the Mutual Safety Insurance Company, upon the ship Burgundy, to the amount of $8000. The ship was lost, by one of the perils insured against. In May, 1849, the company discontinued the. business of insurance; and in October, 1850, it was dissolved and a receiver appointed.
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Motion to set aside a report of referees. On the 22d of July, 1848, De Voss & Hanenwinckel effected an insurance with the Mutual Safety Insurance Company, upon the ship Burgundy, to the amount of $8000. The ship was lost, by one of the perils insured against. In May, 1849, the company discontinued the. business of insurance; and in October, 1850, it was dissolved and a receiver appointed. On the 10th of July, 1849, the company admitted and adjusted the claim of the insured, under such policy, at $8000. On the 23d of June, 1851, the claim of the insured was, by an order of the supreme court,…
1Opinion of the CourtClerke, J.
I am at a loss to conceive in what respect this differs from any other release, to entitle the plaintiffs to have it set aside “ so that the funds in the hands of the receiver should be distrib*176utecl in the same way as if the plaintiffs had not executed the release.” Is fraud pretended ? Not at all; it is expressly disavowed. Was there no consideration 1 The plaintiffs received an immediate payment of fifty per cent ($4,000) on their claim, with a stipulation that if, after the payment of fifty per cent on their claims and those of the other creditor^ who united with them in this release, and…
2Cases cited1 opinion
- Pratt v. CrockerNew York Supreme Court · 1819