Fidelity Mutual Life Insurance v. Bussell
Supreme Court of Arkansas
Appeal from Union Circuit Court. Chas. W. Smith, Judge. statement by tiie court. On the 25th of June, 1900, the appellant insurance company issued a policy of $1,000 upon the life of John T. Bussell, payable to his father, Thomas P. Bussell, the appellee. The premium was $50.40, payable on the 25th of June, 1900, and every year thereafter for twenty years.
Read the full summary
Appeal from Union Circuit Court. Chas. W. Smith, Judge. statement by tiie court. On the 25th of June, 1900, the appellant insurance company issued a policy of $1,000 upon the life of John T. Bussell, payable to his father, Thomas P. Bussell, the appellee. The premium was $50.40, payable on the 25th of June, 1900, and every year thereafter for twenty years. No premium was paid on delivery of the policy other than 80 cents, the cost of the revenue stamps, and in lieu of cash premium John T. Bussell executed his note for said premium (less the revenue tax), $49.60, due November 1, 190O.…
1Opinion of the Court
Hill, C. J.,
(after stating the .facts.) In the case of Iowa Life Insurance Company v. Lewis, 187 U. S. 335, the Supreme Court of the United States carefully reviewed the decisions of that court and other courts on the effect of premium notes and their nonpayment and extension of time by agents,, and the conclusion reached is thus stated in the syllabus: “When the first premium on a policy of insurance is paid by note, and a receipt with such an indorsement thereon is given and accepted therefor, whilst the primary condition of forfeiture for nonpayment of the annual premium is waived by the…
2Cases cited8 opinions
- Iowa Life Insurance v. LewisSupreme Court of the United States · 1902
- American Employers' Liability Insurance v. FordyceSupreme Court of Arkansas · 1896
- German Insurance v. GibsonSupreme Court of Arkansas · 1890
- Insurance Co. v. BrodieSupreme Court of Arkansas · 1889
- German-American Insurance v. HumphreySupreme Court of Arkansas · 1896
3 more not listed; retrieve them via the Exa API.
3Cited by15 opinions
- Pacific Mutual Life Insurance v. CarterSupreme Court of Arkansas · 1909
- People's Fire Insurance v. GoyneSupreme Court of Arkansas · 1906
- Waters v. Security Life & Annuity Co.Supreme Court of North Carolina · 1907
- Robnett v. Cotton States Life InsuranceSupreme Court of Arkansas · 1921
- American Insurance v. HornbargerSupreme Court of Arkansas · 1908
10 more not listed; retrieve them via the Exa API.