Nedrow v. Farmers' Ins.
Supreme Court of Iowa
Appeal from Louisa Ci/reuit Court Action on a policy of insurance. The policy, annexed as an exhibit to the petition, contained the following provision: “ When a promissory note is given by the assured for the cash premium it shall be considered a payment, provided such note is paid at or before maturity.
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Appeal from Louisa Ci/reuit Court Action on a policy of insurance. The policy, annexed as an exhibit to the petition, contained the following provision: “ When a promissory note is given by the assured for the cash premium it shall be considered a payment, provided such note is paid at or before maturity. But it is expressly understood and agreed by and between the parties hereto that, should any loss or damage occur to the property hereby insured, and the note given for the cash premium or any portion thereof remain unpaid and past due at the time of such loss or damage, then this policy…
1Opinion of the CourtAdams, J.
-The petition states substantially that at the time the company received the payment of ten dollars and returned the policy to the plaintiff, it elected to continue the policy in force. The demurrer admits the allegation, but then the allegation must be taken with such qualifications as the other parts of the petition impose upon it. The policy was in force to this extent, that it was the plaintiff’s right to pay the balance due on her note at any time, and by such payment merely, and without any further contract, the policy would become operative. The effect of returning the policy, after…
2Cases cited3 opinions
- Williams v. Albany City InsuranceMichigan Supreme Court · 1870
- Schmidt v. Peoria Marine & Fire InsuranceIllinois Supreme Court · 1866
- Watrous v. Mississippi Valley Ins.Supreme Court of Iowa · 1872
3Cited by3 opinions
- Garlick v. Mississippi Valley Ins.Supreme Court of Iowa · 1876
- Supple v. Iowa State InsuranceSupreme Court of Iowa · 1882
- Olson v. Agricultural Mutual InsuranceSupreme Court of Iowa · 1944