Caplin v. Penn Mutual Life Insurance
Appellate Division of the Supreme Court of the State of New York
Appeal by the plaintiff, Stephen Caplin, from a judgment of the Supreme Court in favor of the defendants, entered in the office of the clerk of the county of Kings on the 31st day of July, 1917, dismissing the complaint upon the decision of the court after a trial at the Kings County Special Term.
1Dissent
Putnam, J. (dissenting):
Borrowing on one’s life insurance, arising from ■ business necessities, was not authorized in this State until 1892. (Insurance Law [Gen. Laws, chap. 38; Laws of 1892, chap. 690], § 16, as amd.; now Insurance Law [Consol. Laws, chap. 28; Laws of 1909, chap. 33], § 16, as amd.) Defendant’s policy has a printed clause, providing for such advance on “ proper assignment of the policy.” Obviously such a special clause should be read and construed with the other policy provisions. What is a proper assignment of this policy? Suppose the beneficiary named were a creditor for…
2Cases cited10 opinions
- Central Bank of Washington v. HumeSupreme Court of the United States · 1888
- Whitehead v. . New York Life Ins. Co.New York Court of Appeals · 1886
- Tyler v. Treasurer & Receiver GeneralMassachusetts Supreme Judicial Court · 1917
- Hilliard v. Wisconsin Life InsuranceWisconsin Supreme Court · 1908
- Travelers' Insurance v. HealeyAppellate Division of the Supreme Court of the State of New York · 1898
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