Caryl v. McElrath
The Superior Court of New York City
Assumpsit on a promissory note for $2,526, made by the defendant, payable to The Alliance Mutual Insurance Company, on order, at twelve months. The note was indorsed “ Alliance Mutual Insurance Company, Jas. D. P. Ogden, president.”
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Assumpsit on a promissory note for $2,526, made by the defendant, payable to The Alliance Mutual Insurance Company, on order, at twelve months. The note was indorsed “ Alliance Mutual Insurance Company, Jas. D. P. Ogden, president.” The defendant read in evidence the charter of the company, and proved that the commissioners appointed to organize it, met on the 26th April, 1843, and received applications for insurance to the amount of $595,000, and notes for premiums thereon to $40,000; all of which, the commissioners approved, and thereupon adopted a resolution to the effect, that the company…
1Opinion of the Court
By the Court. Oakley, Ch. J.
The third section of the act incorporating this company, (Laws of 1843, ch. 94,) made it the duty of the commissioners named in the act, to open a book to receive applications for insurances; and, after receiving such applications, to be approved by them, amounting to five hundred thousand dollars, the premium on which should have been actually paid in, or secured to be paid, they might close the book, and the company might be organized. They were then to superintend the first election of not less than twenty-four trustees of the company.
It is contended by the…
2Cited by3 opinions
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