Kansas City Life Ins. Co. v. Hammett

ODOM, Justice.

As the issues in these cases are identical, the cases were consolidated for the purpose of trial in the lower court and were argued together here. The only question involved is whether uncollected premiums on life insurance policies falling due during the current year are property and are taxable as “credits” as that term is defined by section 91, Act No. 170 of 1898, which reads in part as follows:

“The term ‘credit’ includes every claim and demand for money, labor, merchandise and other valuable things.”

These cases were' submitted on an agreed statement of facts, which shows…