Nelson v. Edwards
New York Supreme Court
PPEAL by the plaintiffs from a judgment entered on a trial at the circuit, before Justice Alleít, without a jury. The action was upon a premium note, given by. the defendant, to the Atlas Mutual Insurance Company, on effecting an insurance upon a vessel. The defendant, in his answer, alleged by way of s.et-off and counter-claim,, a loss and damage sustained by the property insured, by the perils insured against, during the running of the policy.
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PPEAL by the plaintiffs from a judgment entered on a trial at the circuit, before Justice Alleít, without a jury. The action was upon a premium note, given by. the defendant, to the Atlas Mutual Insurance Company, on effecting an insurance upon a vessel. The defendant, in his answer, alleged by way of s.et-off and counter-claim,, a loss and damage sustained by the property insured, by the perils insured against, during the running of the policy. The following facts were found by the court: First. The note in controversy was' a premium note, given for risk on the schooner Gardner Pike on the…
1Opinion of the CourtMullin, J.
The Atlas Insurance Company had an undoubted legal right to receive the note of the defendant in payment, of the premium on the insurance of his vessel, and the note was a valid and available security in its hands. The said company was authorized by § 12 of the charter of the Atlantic Mutual Insurance Company, (which was made a part of the charter of the Atlas company,) “ to receive the notes of its dealers for premiums in advance, of persons intending to receive its policies, and to negotiate such notes for the purpose of paying claims or otherwise in the course of its business.” It (the…
2Cited by4 opinions
- Peck v. . YorksNew York Court of Appeals · 1878
- Jordan v. HarrisonMissouri Court of Appeals · 1891
- Toplitz v. BauerAppellate Division of the Supreme Court of the State of New York · 1898
- Treadwell v. LincolnNew York Supreme Court · 1889