Bank of Commerce v. New York Life Insurance
Supreme Court of Georgia
Action on insurance policy.. Before Judge Littlejohn. Sumter .superior court. February 24, 1905. The Bank of Commerce brought suit against the New York Life Insurance Company, and alleged: On August 28, 1900, the company issued a policy of insurance for $2,000, upon the life of John H. Kleckley. On November 21, 1901, Kleckley transferred and assigned the policy, for value, to the petitioner.
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Action on insurance policy.. Before Judge Littlejohn. Sumter .superior court. February 24, 1905. The Bank of Commerce brought suit against the New York Life Insurance Company, and alleged: On August 28, 1900, the company issued a policy of insurance for $2,000, upon the life of John H. Kleckley. On November 21, 1901, Kleckley transferred and assigned the policy, for value, to the petitioner. It is provided in the contract of insurance that “A grace of one month, during which the policy remains in full force, will be allowed in payment of all premiums except the first, subject to an interest…
1Opinion of the CourtLumpkin, J.
(After stating the foregoing facts.) The" policy of insurance provides that one month’s grace shall be allowed for the pajunent of premiums after the date of their maturity. When the second annual premium became due, the insured, being unable to pay the full amount, paid $21 in cash, and gave his note for the balancé, due five months after date. c The note provided, “Without grace, five months .after date, I promise to pajq” etc., and further provided, that “all benefits whatever, which full payment in cash of said premium would have secured, shall become immediately void and be forfeited to…
2Cases cited5 opinions
- Holly v. . Metropolitan Life Ins. Co.New York Court of Appeals · 1887
- Hutson v. Prudential InsuranceSupreme Court of Georgia · 1905
- Ressler v. Fidelity Mutual Life InsuranceTennessee Supreme Court · 1903
- Haupt v. Phœnix Mutual Life Insurance Co.Supreme Court of Georgia · 1900
- Manhattan Life Insurance v. PentecostCourt of Appeals of Kentucky · 1899
3Cited by29 opinions
- Arnold v. Empire Mutual Annuity & Life InsuranceCourt of Appeals of Georgia · 1908
- Southland Life Ins. v. HopkinsTexas Commission of Appeals · 1922
- Maddox v. Life & Casualty InsuranceCourt of Appeals of Georgia · 1949
- Hipp v. Fidelity Mutual Life InsuranceSupreme Court of Georgia · 1907
- Rome Industrial Insurance v. EidsonSupreme Court of Georgia · 1912
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