Mercantile Credit Guarantee Co. of New York v. Wood
Court of Appeals for the Second Circuit
In Error to the Circuit Court of the United States for the Southern District of Slew York. This was an action by Charles P. Wood and others against the Mercantile Credit Guarantee Company of New York on a policy of insurance. In the circuit court, judgment was rendered for the plaintiffs. Defendant brings error.
Read the full summary
In Error to the Circuit Court of the United States for the Southern District of Slew York. This was an action by Charles P. Wood and others against the Mercantile Credit Guarantee Company of New York on a policy of insurance. In the circuit court, judgment was rendered for the plaintiffs. Defendant brings error. This is a writ of error by tbe defendant below to review a judgment in favor of the defendants in error (plaintiffs below) entered upon a verdict recovered upon a trial in the circuit court, Southern district of New York, on October 26, 1881. The action was brought to recover the sum…
1Opinion of the CourtLacombe, Circuit Judge
(after stating the facts). It will not be necessary to go into any elaborate analysis of the computations by which the losses sustained under this poiicy were adjusted. The main controversy is as to the interpretation of the word “loss,” as used in the policy. The defendant contends that it means the amount of indebtedness due from the insolvent at the time of his suspension or failure. The plaintiffs contend that the word “loss” means, not the amount of indebtedness due from the insolvent debtor at the time of his suspension, but the balance of such indebtedness after deducting from the…
2Cited by6 opinions
- Philadelphia Casualty Co. v. FechheimerCourt of Appeals for the Sixth Circuit · 1915
- Tebbets v. Mercantile Credit Guarantee Co. of New YorkCourt of Appeals for the Second Circuit · 1896
- American Credit Indemnity Co. v. WoodCourt of Appeals for the Second Circuit · 1896
- Electric Reduction Co. v. LewellynCourt of Appeals for the Third Circuit · 1926
- Sloman v. Mercantile Credit Guarantee Co.Michigan Supreme Court · 1897
1 more not listed; retrieve them via the Exa API.