Sinnissippi Insurance v. Taft

This was a suit by the appellant, a mutual insurance company organized under the general laws of this State, to recover from the appellee the amount of a premium note, after the refusal by him to pay an assessment made upon the note by the company. It appeared by the complaint that at the time the assessment was made *241the company was liable for losses by fire to property insured by it in the sum of $12,661. It was also indebted for expenses unpaid $8,706, and for “bills payable and unpaid, $13,163 74,” making a total of $34,540 74. What constituted the consideration of the “ bills payable and…