Union Mutual Marine Insurance v. Howes
Massachusetts Supreme Judicial Court
Contract on the following promissory note, signed by the defendant, to recover $483.29, of which $232.29 was an additional premium under the terms of the policy of marine insurance, for which the note was given : “ Hew Bedford, 7 mo. 27th, 1869. For value received in a policy of insurance Ho: 8714 on $2500, Selah, I promise to pay the Union Mutual Insurance Company, or order, at either bank in town, two hundred fifty-one dollars, with such additional sums as may fall due by…
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Contract on the following promissory note, signed by the defendant, to recover $483.29, of which $232.29 was an additional premium under the terms of the policy of marine insurance, for which the note was given : “ Hew Bedford, 7 mo. 27th, 1869. For value received in a policy of insurance Ho: 8714 on $2500, Selah, I promise to pay the Union Mutual Insurance Company, or order, at either bank in town, two hundred fifty-one dollars, with such additional sums as may fall due by the terms of said policy, in two months after the termination of the risk for which this note is given.” Writ dated May…
1Opinion of the CourtEndicott, J.
This policy contains the provision that, “ in case of loss, such loss shall be paid in sixty days after proof and adjustment thereof, the amount of the premium note, if unpaid, and all sums due to the company from the insured when such loss becomes due, being first deducted, and all sums coming due being first paid or secured to the satisfaction of the said president and directors, they discounting interest for anticipating payment.”
This clause, which is common in policies of this description, has been frequently considered in the decisions of this court. In Livermore v. Newburyport Ins. Co.…
2Cases cited2 opinions
- Columbian Insurance v. BeanMassachusetts Supreme Judicial Court · 1873
- Warren v. Franklin InsuranceMassachusetts Supreme Judicial Court · 1870
3Cited by2 opinions
- Lane v. Volunteer Co-operative BankMassachusetts Supreme Judicial Court · 1940
- Cape Ann Bank & Trust Co. v. PlaceMassachusetts District Court, Appellate Division · 1967