Tebbets v. Mercantile Credit Guarantee Co. of New York
Court of Appeals for the Second Circuit
In Error to the Circuit Court of the United States for the Southern District of Yew York. This case comes here on writ of error to review a judgment of the circuit court, Southern district oí New York, in favor of defendant in error, who was defendant below. The action was brought on a policy of insurance against business losses or “uncollectible debts,” issued by the defendant to the plaintiffs.
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In Error to the Circuit Court of the United States for the Southern District of Yew York. This case comes here on writ of error to review a judgment of the circuit court, Southern district oí New York, in favor of defendant in error, who was defendant below. The action was brought on a policy of insurance against business losses or “uncollectible debts,” issued by the defendant to the plaintiffs. The total amount of uncollectible debts for which it was claimed the defendant was liable under Ike policy, without deducting the “initial loss” to be borne by the plaintiffs, was $8,01(5.56, and…
1Opinion of the CourtLacombe, Circuit Judge
(after stating the facts as above). One question only is presented under this writ of error, and it arises upon the construction of a written instrument. Insurance against mercantile losses is a new branch of the business of underwriting, and but few cases dealing with policies of that character have as yet found their way into the courts. The necessarily nice adjustments of the respective proportions of loss to be borne by insurer and insured, the somewhat intricate provisions which are required in order to make such business successful, and the lack of experience in formulating the…
2Cases cited3 opinions
- Wallace v. German-American Ins.U.S. Circuit Court for the District of Northern Iowa · 1882
- Mercantile Credit Guarantee Co. of New York v. WoodCourt of Appeals for the Second Circuit · 1895
- Wadsworth v. . the Jewelers Tradesmen's Co. of New YorkNew York Court of Appeals · 1892
3Cited by17 opinions
- Bowers v. Lawyers Mortgage Co.Supreme Court of the United States · 1932
- Guarantee Co. of North America v. Mechanics' Sav. Bank & Trust Co.Court of Appeals for the Sixth Circuit · 1896
- Craft v. Standard Acc. Ins. Co.Supreme Court of Alabama · 1929
- National Surety Co. v. JulianSupreme Court of Alabama · 1933
- Philadelphia Casualty Co. v. FechheimerCourt of Appeals for the Sixth Circuit · 1915
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