Brown v. . Crooke
New York Court of Appeals
John Brown, as the receiver of the effects of the Croton Insurance Company, an insolvent corporation, brought assumpsit against the defendants upon a promissory note of $1000, being one of several notes executed by the defendants to the order of that company for premiums in advance on policies thereafter to be taken.
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John Brown, as the receiver of the effects of the Croton Insurance Company, an insolvent corporation, brought assumpsit against the defendants upon a promissory note of $1000, being one of several notes executed by the defendants to the order of that company for premiums in advance on policies thereafter to be taken. It was proved that the notes had no other consideration, and that no premiums had been earned by the company, inasmuch as the defendants had taken no policies after the notes [52] were given. The plaintiff had a verdict and judgment in the superior court of the city of Hew-York…
1Opinion of the CourtJewett, J.
The Croton Insurance Company was incorporated by an act of the legislature, passed April 10, 1843. Section 4 conferred on the company all the powers and privileges which were granted to the Atlantic Mutual Insurance Company, by the act to incorporate that company, passed April 11, 1842, with certain exceptions therein mentioned, but which it is not necessary to state.
The case shows that the Croton Insurance Company was organized under the act for its incorporation, and began to transact business as such, in the city of Hew-York, on the first of July, 1844, and on the 15th day of May, 1846,…
2Cases cited1 opinion
- Verplanck v. Mercantile InsuranceNew York Court of Chancery · 1831
3Cited by1 opinion
- Hope Mutual Life Insurance v. PerkinsThe Superior Court of New York City · 1867