Glen v. Hope Mutual Life Insurance
New York Supreme Court
Appeal by defendant from a judgment for $15,703.81, in favor of plaintiff entered at Monroe circuit, upon a verdict directed by the court. On the 11th of ¡November, 1870, the Craftsmen’s Life Assurance Company of Hew York issued three policies upon the life of Joseph F. Hall, in each of which it agreed to pay to the plaintiffs, Francis W. Glen and Milton E. Holton, as trustees for the heirs of Hall, $5,000 in case he died within four years of the date of the policy.
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Appeal by defendant from a judgment for $15,703.81, in favor of plaintiff entered at Monroe circuit, upon a verdict directed by the court. On the 11th of ¡November, 1870, the Craftsmen’s Life Assurance Company of Hew York issued three policies upon the life of Joseph F. Hall, in each of which it agreed to pay to the plaintiffs, Francis W. Glen and Milton E. Holton, as trustees for the heirs of Hall, $5,000 in case he died within four years of the date of the policy. Hall died June 23, 1872, and notice and proof of his death was" furnished to the Craftsmen’s Assurance Company, June 29, 1872.…
1Opinion of the CourtTalcott, J.
The contract between the Craftsmen’s Assurance Company and the defendant was not only a contract by which the defendant agreed to re-insure and indemnify the Craftsmen’s company in respect to the policies theretofore issued by it, but it also contained an express agreement on the part of the defendant to pay to the holders of the Craftsmen’s policies all such sums as the latter company might, by force of such policies, become liable to pay; and a further agreement to accept from the holders a surrender of the Craftsmen’s policies and issue its own in lieu thereof. This agreement was founded…
2Cases cited3 opinions
- Lawrence v. . FoxNew York Court of Appeals · 1859
- Kelly v. . RobertsNew York Court of Appeals · 1869
- Hatch v. PryorNew York Court of Appeals · 1867