Lawrence v. Schaefer

This action was tried without a jury, and involves the question of the right of the insured in a Lloyds policy to sue each of the underwriters to recover for a loss within the terms *240of the policy.' The policy in suit was issued by twenty-five underwriters, and is signed, not by them personally, but by C. Hagen, their attorney. By the terms of the policy, the personal liability of each underwriter is limited to $200 in the event of loss, and-is individual and several. Then occur the following clauses, which comprise the nub of the controversy.in this action: “Ho action shall be brought to…