New Haven Trust Co., Receiver v. Doherty
Supreme Court of Connecticut
Action by the receiver of an insolvent life insurance company to recover the amount of losses sustained by it through the negligence and wrongdoing of the defendants in making contracts and loaning the company’s funds, brought to the Superior Court in New Haven County and tried to the court, Rorabaek, J.; facts found and judgment rendered for the plaintiff to recover $19,869, and appeal by the defendants for alleged errors in the rulings and findings of the court.
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Action by the receiver of an insolvent life insurance company to recover the amount of losses sustained by it through the negligence and wrongdoing of the defendants in making contracts and loaning the company’s funds, brought to the Superior Court in New Haven County and tried to the court, Rorabaek, J.; facts found and judgment rendered for the plaintiff to recover $19,869, and appeal by the defendants for alleged errors in the rulings and findings of the court. The finding showed these facts, among others: One Schmidt was appointed by the Connecticut Life Insurance Company, in 1894,…
1Opinion of the CourtBaldwin, J.
The defendants, in all dealings with Schmidt, acted for the company and as its sole representatives. They were its principal officers and were salaried. That they were inexperienced in the business of life insurance did not, if they undertook to conduct it for another, excuse them from exercising such care and skill as ordinarily prudent management might require. This was, in substance, the standard of diligence adopted by the trial-court. It remained to apply it to the facts of the case. Unless these were such that no honest, fair-minded and capable men could reasonably come to the…
2Cases cited2 opinions
- Farrell v. Waterbury Horse R. R. Co.Supreme Court of Connecticut · 1891
- Betts v. Connecticut Indemnity Ass'nSupreme Court of Connecticut · 1899
3Cited by5 opinions
- Sparrow v. BromageSupreme Court of Connecticut · 1910
- Gutowski v. City of New BritainSupreme Court of Connecticut · 1973
- New Haven Trust Co., Rec. v. DohertySupreme Court of Connecticut · 1903
- Harding v. StaplesSupreme Court of Connecticut · 1930
- Lippitt v. AshleySupreme Court of Connecticut · 1915