Mayo v. Maine Fire & Marine Insurance
Massachusetts Supreme Judicial Court
[ *259] * Case upon a policy of insurance, wherein the defendants caused the plaintiff to be insured the sum of $ 9000 upon the ship William, and appurtenances, valued in the policy at $ 18,000, from London to the Cape de Verd Islands for a cargo of salt, and at and from thence to her port of discharge in the United States, at a premium of forty-five per cent. The action was submitted to the determination of the Court upon the following facts agreed by the parties.
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[ *259] * Case upon a policy of insurance, wherein the defendants caused the plaintiff to be insured the sum of $ 9000 upon the ship William, and appurtenances, valued in the policy at $ 18,000, from London to the Cape de Verd Islands for a cargo of salt, and at and from thence to her port of discharge in the United States, at a premium of forty-five per cent. The action was submitted to the determination of the Court upon the following facts agreed by the parties. The ship, having taken on board her cargo of salt, was driven out of her port in a gale of wind, and was captured by the enemy,…
1Opinion of the CourtParker, C. J.
The plaintiff, in this case, procured his insurance for nine thousand dollars on a ship of the value of eighteen thousand dollars, of which he owned one third part. He contends that he has a right to recov er the whole sum insured, because the premium, which was at the rate of forty-five per cent., is to be taken into the computation, and then his interest will exceed the sum insured. The defendants, on the other hand, contend that he is to be restricted in the recovery to six thousand dollars ; because that is the amount of his interest in the ship, according to the stipulated value, he not…
2Cited by1 opinion
- Insurance Co. of North America v. WilleyMassachusetts Supreme Judicial Court · 1912