The People v. . Empire Mut. Life Ins. Co.
New York Court of Appeals
Appeal by John P. O’Heill, receiver of the defendant, from an order of the General Term of the Supreme Court, in the third judicial department, made December 19, 1882,-which reversed an order of Special Term: “ In so far as said order rejects and disallows the claims of certain policy-holders in said order named and sustains the exceptions to that portion of the referee’s report as holds said claims to be invalid.”
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Appeal by John P. O’Heill, receiver of the defendant, from an order of the General Term of the Supreme Court, in the third judicial department, made December 19, 1882,-which reversed an order of Special Term: “ In so far as said order rejects and disallows the claims of certain policy-holders in said order named and sustains the exceptions to that portion of the referee’s report as holds said claims to be invalid.” (Deported below, 28 Hun, 358.) The material facts are stated in the opinion. The contract of reinsurance of the Empire with the Continental was not illegal. (Laws of 1853, pp. 805,…
1Opinion of the Court
Huger, Ch. J.
The sole question raised upon this appeal is whether a person insured forfeits his policy by omitting to pay annual premiums thereon when the company issuing such policy has ceased its business, transferred all of its assets aud become insolvent.
It would seem to be an inequitable rule that would require a policy-holder to continue for years in the payment of annual premiums upon a life insurance policy to a corporation utterly unable to perform its obligation, and which, by its situation, is precluded from even possibly improving its condition in the future, or forfeit all that…
2Cases cited3 opinions
- People v. Security Life Insurance & Annuity Co.New York Court of Appeals · 1879
- Shaw v. . Republic Life Ins. Co.New York Court of Appeals · 1877
- Pontius v. . People of the State of New YorkNew York Court of Appeals · 1880
3Cited by20 opinions
- Bogardus v. . New York Life Ins. Co.New York Court of Appeals · 1886
- Supreme Lodge, Knights of Honor v. DavisSupreme Court of Colorado · 1899
- Federal Life Insurance v. MaxamIndiana Court of Appeals · 1917
- Merrick v. Northwestern National Life InsuranceWisconsin Supreme Court · 1905
- Iowa Life Insurance v. Eastern Mutual Life InsuranceSupreme Court of New Jersey · 1900
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