Sturm v. Williams
The Superior Court of New York City
Appeal from judgment entered for plaintiff, and from order denying motion for new trial. The complaint is, that, on August 30,1867, for good consideration, the defendant and others, associated in the business of marine insurance, under the name of the United States Lloyds, executed and delivered a policy of insurance, whereby they severally insured the plaintiff, on account of whom it might concern, in case of loss to be paid to him, to the amount of fifteen thousand…
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Appeal from judgment entered for plaintiff, and from order denying motion for new trial. The complaint is, that, on August 30,1867, for good consideration, the defendant and others, associated in the business of marine insurance, under the name of the United States Lloyds, executed and delivered a policy of insurance, whereby they severally insured the plaintiff, on account of whom it might concern, in case of loss to be paid to him, to the amount of fifteen thousand dollars, on a voyage at and from New York to Vera Cruz, upon a cargo of military goods and merchandise, laden or to be laden on…
1Opinion of the Court
By the Court.—Sedgwick, J.
The insurance in this case, was made by a valued policy. The policy contains the clause, “the said goods and merchandise-hereby insured are valued at two hundred and thirteen thousand dollars.”
The valuation of a policy is deemed to be the result of an agreement between the insurer and insured, which liquidates the amount of the indemnity, which the insured is entitled to have, in case of loss. This agreement may be invalidated by the insurer, if his assent be procured, by material misrepresentation, fraudulently made. It is unnecessary to determine on this appeal…
2Cases cited8 opinions
- Simar v. . CanadayNew York Court of Appeals · 1873
- Newell v. . DotyNew York Court of Appeals · 1865
- Wells v. . KelseyNew York Court of Appeals · 1867
- Garey v. NicholsonNew York Supreme Court · 1840
- Suydam & Wyckoff v. Marine InsuranceNew York Supreme Court · 1806
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