Matheson v. Equitable Marine Insurance
Massachusetts Supreme Judicial Court
Contract upon a policy of marine insurance issued by the defendant to Robert Soper & Son, for whom it concerns, loss, if any, payable to the plaintiff, “ for $300 on one sixteenth of the schooner Thriver, and $300 on one sixteenth of outfits on board said schooner for a whaling voyage at and from Boston, commencing the risk on November 21, 1870, at noon, and terminating when she arrives at her port of discharge in the United States and is discharged; ” “ Schooner valued at…
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Contract upon a policy of marine insurance issued by the defendant to Robert Soper & Son, for whom it concerns, loss, if any, payable to the plaintiff, “ for $300 on one sixteenth of the schooner Thriver, and $300 on one sixteenth of outfits on board said schooner for a whaling voyage at and from Boston, commencing the risk on November 21, 1870, at noon, and terminating when she arrives at her port of discharge in the United States and is discharged; ” “ Schooner valued at $5000 ; outfits, $5000 ; ” and containing the following clauses : “ Touching the adventures and perils which the said…
1Opinion of the CourtGray, C. J.
A policy of marine insurance is a contract by which, for a consideration stipulated to be paid by one interested in a ship, freight or cargo, subject to marine risks, another undertakes to indemnify him against some or all of those risks during a certain period or voyage; in other words, that, so far as the perils insured against are concerned, the subject insured shall remain, throughout the term of the policy, of the value which it had at the beginning of the adventure. If that value is fixed by the policy, it is conclusive upon the parties; and the liability of the underwriter for each…
2Cases cited6 opinions
- Wood v. Lincoln & Kennebeck InsuranceMassachusetts Supreme Judicial Court · 1810
- Barker v. Phoenix InsuranceNew York Supreme Court · 1811
- Potter v. Providence Washington Ins.U.S. Circuit Court for the District of Rhode Island · 1826
- Schmidt v. United InsuranceNew York Supreme Court · 1806
- Parkhurst v. Gloucester Mutual Fishing InsuranceMassachusetts Supreme Judicial Court · 1868
1 more not listed; retrieve them via the Exa API.
3Cited by2 opinions
- Taber v. China Mutual InsuranceMassachusetts Supreme Judicial Court · 1881
- SCAC Transport (USA) Inc. v. Atlantic Mutual InsuranceDistrict Court, S.D. New York · 1987