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Full-Text Articles in Insurance Law
Insurance-Loan Contract Which Provides For Cancellation Of Debt In Event Of Named Contingencies As An Insurance Contract, Wendell B. Will
Insurance-Loan Contract Which Provides For Cancellation Of Debt In Event Of Named Contingencies As An Insurance Contract, Wendell B. Will
Michigan Law Review
In consideration of plaintiff's promise to pay $720 to defendant in twelve monthly installments, defendant promised to advance $600. Plaintiff's obligation was to be cancelled in case of his death, and his obligation to pay installments was to be suspended while plaintiff was disabled because of illness or accident. Plaintiff warranted his good health and agreed that the contract was neither usurious nor one of insurance. The contract having been executed, plaintiff sought recovery under the Texas usury statute. The trial court held that of the $120 paid in excess of the loan, $60 was for maximum legal interest, $12 …
Insurance--Insurable Interest--Assignment Of Life Insurance Policy As Collateral Security, Richard C. Scatterday
Insurance--Insurable Interest--Assignment Of Life Insurance Policy As Collateral Security, Richard C. Scatterday
Michigan Law Review
The insured and a revocably designated beneficiary jointly assigned a life insurance policy as collateral security for a prior indebtedness of the insured. Another policy and first deed of trust notes were also assigned as collateral by the insured. Upon the death of the insured, who obtained the policy and paid all premiums, the bank applied a proportionate amount of the proceeds from this policy to the debt and paid the remaining sum to the beneficiary. Executors of the estate of the insured seek to recover the sum paid by the bank to the beneficiary, while executors of the beneficiary …
Insurance - Conditional Vendor's Insurance - Effect Of Repair By Or Restoration To The Vendee Or Sub-Vendee, Michigan Law Review
Insurance - Conditional Vendor's Insurance - Effect Of Repair By Or Restoration To The Vendee Or Sub-Vendee, Michigan Law Review
Michigan Law Review
Plaintiff, a Minnesota corporation, purchased the vendor's interest in an automobile sold under a conditional sales contract. The defendant insured the plaintiff against direct loss or damage to the automobile by collision and/or upset. The vendee, without plaintiff's knowledge or consent, sold the car to a sub-vendee who drove it to Texas, became involved in an accident, and sold the wreckage to a resident of Texas who purchased in good faith. The car was rebuilt and resold. Plaintiff sued for the loss caused by the collision. Held, plaintiff may recover even though the car was repaired by others prior …
Contracts - Anticipatory Breach - Right To Recover In Advance On A Unilateral Obligation To Pay Money, John M. Ulman
Contracts - Anticipatory Breach - Right To Recover In Advance On A Unilateral Obligation To Pay Money, John M. Ulman
Michigan Law Review
Plaintiff brought suit on an accident insurance policy. He alleged that the defendant insurer wholly repudiated the policy and informed plaintiff that it would not in any event pay him the monthly indemnity according to the terms of the policy even though a doctor of its own choice advised that the plaintiff was permanently disabled. Held, that under the Texas law, when one who is obligated by contract to make money payments to another absolutely repudiates and abandons the obligation without just excuse, the obligee is entitled to maintain his action in damages at once for the entire breach. …