Emmet v. . Reed
New York Court of Appeals
This action was brought in the superior court of the city of New York, to recover an amount claimed to be due upon a note for $5000 given by the defendant to the Alliance Mutual Insurance Company, dated May 1, 1846, and payable twelve months after date.
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This action was brought in the superior court of the city of New York, to recover an amount claimed to be due upon a note for $5000 given by the defendant to the Alliance Mutual Insurance Company, dated May 1, 1846, and payable twelve months after date. The Alliance Mutual Insurance Company, was incorporated by chapter 94 of the laws of 1843. By the second section of the act of incorporation it was made the duty of the commissioners therein named, to open a book to receive applications for insurance, and after receiving such applications to be approved by them to the amount of five hundre.d…
1Opinion of the Court
Gardiner, J.,
delivered the opinion of the court.—The note of the defendant was given under an agreement, that he should have the right of paying the whole amount in policies of insurance, which he might procure either in his own name, or in the names of his personal friends, or other persons whom he should influence to insure in the company. This agreement was made with the secretary of the company, -and communicated to the president and approved by him, and directions were by him given that the note should be used upon the terms prescribed. This was done and the transaction was ratified and…
2Cited by4 opinions
- Minneapolis Fire & Marine Mutual Insurance v. NormanSupreme Court of Arkansas · 1905
- Hancock v. LukeUtah Supreme Court · 1918
- Emmet v. ReedNew York Court of Appeals · 1853
- Foley v. Western N. Y. & P. R.Superior Court of Buffalo · 1892