Phœnix Insurance v. McLoon
Massachusetts Supreme Judicial Court
The first of these suits was a bill in equity brought to cancel a policy of insurance effected on the defendant’s ship Young Mechanic, from Boston to Hong Kong, for $7500 on the body of the ship, valued at $65,000, and for $2500 on her freight, valued at $22,500. The ship was totally destroyed at sea April 10, 1866. The second suit was an action of contract on the same policy.
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The first of these suits was a bill in equity brought to cancel a policy of insurance effected on the defendant’s ship Young Mechanic, from Boston to Hong Kong, for $7500 on the body of the ship, valued at $65,000, and for $2500 on her freight, valued at $22,500. The ship was totally destroyed at sea April 10, 1866. The second suit was an action of contract on the same policy. On the bill in equity, issues were framed, and at the trial of these issues, before Hoar, J., it appeared that the agreed freight was $2500, and was fixed February 6, 1866. And the jury found that the ship was…
1Opinion of the CourtGray, J.
No rule of the law of insurance is better settled by authority than that by which, when the insured has some interest at risk, and there is no fraud, a valuation of the subject insured in the policy is held conclusive upon the parties, at law and in equity. Hodgson v. Marine Insurance Co. 5 Cranch, 100; S. C. 6 Cranch, 206, and 7 Cranch, 332. Alsop v. Commercial Insurance Co. 1 Sumner, 451. Irving v. Manning, 6 C. B. 391; S. C. 1 H. L. Cas. 287. Barker v. Janson, Law Rep. 3 C. P. 303. 3 Kent Com. (6th ed.) 273. Coolidge v. Gloucester Insurance Co. 15 Mass. 341. Robinson v. Manufacturers’…
2Cases cited5 opinions
- Marine Ins. Co. of Alexandria v. HodgsonSupreme Court of the United States · 1813
- Marine Ins. Co. of Alexandria v. HodgsonSupreme Court of the United States · 1810
- Bardstown & Louisville Railroad v. MetcalfeCourt of Appeals of Kentucky · 1862
- Hodgson v. Marine Ins. Co. of AlexandriaSupreme Court of the United States · 1809
- Coolidge v. Gloucester Marine InsuranceMassachusetts Supreme Judicial Court · 1819
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- Insurance Co. v. ButlerOhio Supreme Court · 1882
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