Open Access. Powered by Scholars. Published by Universities.®
- Discipline
- Keyword
-
- Premiums (3)
- Life insurance (2)
- Negligence (2)
- Ownership (2)
- Absolute interest (1)
-
- Accident (1)
- Annuity for life (1)
- Appraisal (1)
- Automobile (1)
- Automobile accident (1)
- Bailey v. United States (1)
- Board of Tax Appeals (1)
- Breach (1)
- Building (1)
- Causation problem (1)
- Certificate of authority (1)
- Church (1)
- Claflin v. Claflin (1)
- Commissioner of Internal Revenue v. Winslow (1)
- Commissioner v. Beck's Estate (1)
- Conold v. Stern (1)
- Conversions (1)
- Death (1)
- Death tax statutes (1)
- Deficiencies (1)
- Diagnosis (1)
- Distinction (1)
- Duncan v. Lumbermen's Mutual Casualty Co. (1)
- English law (1)
- Equitable Life Assurance Society of United States v. Hobbs (1)
Articles 1 - 13 of 13
Full-Text Articles in Insurance Law
Taxation - Federal Gift Tax - Integration With Income Tax, Katherine Kempfer
Taxation - Federal Gift Tax - Integration With Income Tax, Katherine Kempfer
Michigan Law Review
Beck in 1935 created an irrevocable funded insurance trust of $172,000 in securities together with seven policies of insurance on his life. The income from the securities was to be applied to pay the premiums on the policies and any surplus was to be distributed to his wife and daughter. At grantor's death the proceeds of the policies were to be added to the corpus of the trust and all income was to go to the same beneficiaries for life with remainders over. There was no possibility of reverter in the grantor and no right to alter, modify or revoke …
Annuities - Right Of Legatee, For Whose Benefit The Purchase Of An Annuity Is Directed, To Receive The Principal In Lieu Thereof, Raymond R. Allen
Annuities - Right Of Legatee, For Whose Benefit The Purchase Of An Annuity Is Directed, To Receive The Principal In Lieu Thereof, Raymond R. Allen
Michigan Law Review
The rule has become well established in England that, where a testator bequeaths an annuity for life to his beneficiary and directs his executor or trustee to purchase the annuity with assets of the estate, the annuitant has an option to demand the purchase money in lieu of the annuity. The direction to purchase the annuity is clothed by the courts with a power to change the mere gift of an annuity into a gift in the alternative of the principal or the annuity. This direction indicates the will of the testator that a fund representing the principal of the …
Quasi Contracts - Insurance - Recovery Of Premiums When Parties Mistaken As To Value Of The Subject Matter Of Insurance Contract, Louis C. Andrews, Jr.
Quasi Contracts - Insurance - Recovery Of Premiums When Parties Mistaken As To Value Of The Subject Matter Of Insurance Contract, Louis C. Andrews, Jr.
Michigan Law Review
Plaintiff's intestate, a resident of Georgia, owned items of jewelry which were located in Germany and which were subject to a death tax there, intestate having died in Germany. An appraisal was made by a German court commissioner in assessing the tax and a copy of the appraisal was forwarded to plaintiff executor, who, relying thereon, effected a policy of insurance with the defendant covering all the goods, the principal item being a pearl necklace appraised at $60,000. It was discovered on the safe arrival of the jewelry that the pearl necklace was worth but $60.00, being composed of cultured …
Insurance - Insurable Interest - Tenant At Will, Robert D. Ulrich
Insurance - Insurable Interest - Tenant At Will, Robert D. Ulrich
Michigan Law Review
Plaintiff, an unincorporated religious association, brought this action to recover on a fire insurance policy. Evidence was introduced from which the jury could find that the plaintiff had occupied and used the premises as a church for sixteen years before the policy was issued, but during this period title stood in the name of an incorporated church society. After the date of the policy, but prior to the loss, title was conveyed to the plaintiff. Defendant insurer appeals from judgment for the plaintiff on the ground that plaintiff had no insurable interest on the date of the policy. Held, …
Insurance - Right Of Insurer To Be Subrogated To Claim Of Insured Against A Third Person Where It Has Paid A Claim On Which It Was Not Liable, Michigan Law Review
Insurance - Right Of Insurer To Be Subrogated To Claim Of Insured Against A Third Person Where It Has Paid A Claim On Which It Was Not Liable, Michigan Law Review
Michigan Law Review
Plaintiff paid insured for damage done to his building because of the defendant's negligence, and received a subrogation receipt from the insured. Plaintiff now sues for damages in its own name and for its own benefit. The policy provided that it should be void if the insured did not have sole and unconditional ownership of the property. Title to the damaged property was in the name of the insured's wife, and therefore the policy was void. Held, since the insurer was not obligated under the policy, it was a mere volunteer, and could not be subrogated to the insured's …
Taxation - Federal Estate Taxation Of Life Insurance Effect Of Treasury Decision 5032 Amending Articles 25 And 27 Of The Estate Tax Regulations, Lloyd M. Forster
Taxation - Federal Estate Taxation Of Life Insurance Effect Of Treasury Decision 5032 Amending Articles 25 And 27 Of The Estate Tax Regulations, Lloyd M. Forster
Michigan Law Review
Stated briefly, the effect of T. D. 5032 has thus been to revert to the original test of payment of premiums for determining when insurance has been "taken out" by the decedent, and to abandon ownership of the policy as a basis for including the proceeds in decedent's estate, thereby departing from the fundamental theory of estate taxation. Thus the regulations, in closing one door to tax avoidance, apparently open another. While this avenue of escape may be narrowed by judicial interpretation, a change in the regulations probably will be required to seal it completely.
Evidence - Admissibility Of Hospital Records As Business Entries, Robert C. Lovejoy
Evidence - Admissibility Of Hospital Records As Business Entries, Robert C. Lovejoy
Michigan Law Review
As a defense to a suit on an insurance policy, the defendant insurer claimed that the plaintiff was intoxicated at the time of the fatal accident. Defendant offered in evidence a portion of the case record of the hospital to which plaintiff was taken after the accident, the record stating that he was "apparently well under influence of alcohol." Although it was duly authenticated under the federal statute permitting business entries to be used as evidence, this evidence was excluded by the trial court as being an observation rather than a diagnosis. Held, reversed. There was no basis for …
Taxation Of Annuity Contracts Under Federal Income Tax, Robert Meisenholder
Taxation Of Annuity Contracts Under Federal Income Tax, Robert Meisenholder
Michigan Law Review
A number of questions dealing with the taxability of commercial annuity policies under death tax statutes have received judicial consideration. By contrast, only a few questions dealing with the taxability of these contracts under income tax laws have been raised before the courts. But the income tax problems are equally important in terms of tax liability. Moreover, they will in the future assume an even larger significance in view of the large number of annuity contracts of various types which have been issued and are now being offered by insurance companies. Accordingly some explanation of these problems is warranted.
Judgments - Declaratory Judgments - Action For Declaration Of Noinliability Under Insurance Policy, Arthur M. Hoffeins
Judgments - Declaratory Judgments - Action For Declaration Of Noinliability Under Insurance Policy, Arthur M. Hoffeins
Michigan Law Review
Plaintiff insurance company sought a declaratory judgment that the person to whom its insured had transferred his automobile was not protected by the policy for damages caused to others, such transfer without the consent of the plaintiff being contrary to the terms of the policy. Held, that since by statute the insurer was made directly liable to the injured party, plaintiff was not entitled to a declaration of noncoverage, since it could not isolate one defense and try it in advance, leaving undecided issues involving the negligence of the person to whom the automobile was transferred. New Amsterdam Casualty …
Negligence - The "Same Hazard" Principle - Nonliability In Event Of Injury From A Hazard Of Different Type From That Which Justified Imposition Of Duty To Use Due Care, Michigan Law Review
Negligence - The "Same Hazard" Principle - Nonliability In Event Of Injury From A Hazard Of Different Type From That Which Justified Imposition Of Duty To Use Due Care, Michigan Law Review
Michigan Law Review
In a previous suit by plaintiff against a policy holder, defendant, who was the insurer and conducted the defense for the insured, rejected an offer made by plaintiff to settle the claim for less than the policy limit, which was $5,000. There was thereafter a verdict for plaintiff for $7,500, which was satisfied to the amount of $5,000. Plaintiff then brought an action against the defendant insurance company in the name of the policy holder to recover the remainder of the judgment on the ground that defendant was negligent in rejecting the plaintiff's settlement offer. Held, plaintiff stated no …
Taxation - Income Tax - Exemption Of Proceeds Of Insurance Policies Payable In The Form Of An Annuity, Wilbur Jacobs
Taxation - Income Tax - Exemption Of Proceeds Of Insurance Policies Payable In The Form Of An Annuity, Wilbur Jacobs
Michigan Law Review
Plaintiff was the beneficiary of a life insurance policy payable in equal installments over a period of twenty years. The deferred payments had been substituted for payment of the face amount of the policy through an option in the policy exercised by the insured a short time before his death. The Commissioner of Internal Revenue included in gross income the amount by which each payment exceeded one-twentieth of the face amount of the policy on the theory that this excess was interest and hence not within the statute exempting insurance from gross income. Plaintiff sued to recover the tax paid. …
Insurance - Defenses Of Liability Insurer Against Third Party Injured By Assured Under Statute Giving Injured Party Right Of Action Against Insurer - Constitutionality, Michigan Law Review
Insurance - Defenses Of Liability Insurer Against Third Party Injured By Assured Under Statute Giving Injured Party Right Of Action Against Insurer - Constitutionality, Michigan Law Review
Michigan Law Review
Plaintiff, having recovered a judgment against insured defendant for injuries sustained in an automobile accident, filed a supplemental bill against defendant's insurer to recover the 'insurance money. The statute granting plaintiff this right provides that whenever damage occurs for which the insured is responsible, the liability of the insurer "shall become absolute," and upon his obtaining a judgment against the assured, the injured person shall be entitled to have the insurance money applied to satisfy the judgment. The insurer defended on the ground that the insured violated a condition of the policy by failing to cooperate in the defense of …
Taxation - Insurance Companies - Considerations For Annuity Contracts As "Premiums'' Received For Insurance Contracts, Michigan Law Review
Taxation - Insurance Companies - Considerations For Annuity Contracts As "Premiums'' Received For Insurance Contracts, Michigan Law Review
Michigan Law Review
The defendant commissioner of insurance refused to issue to plaintiff insurance company a certificate of authority to do business in Kansas unless plaintiff paid back taxes claimed to be due on considerations received for "annuity contracts" by the plaintiff, in Kansas, between 1927 and 1938 inclusive. The tax in question was "upon all premiums" received during the year, but the plaintiff contended the word "premiums" did not include considerations received for "annuity contracts." Plaintiff brought mandamus to compel defendant commissioner to issue a certificate of authority to do business. Held, three judges dissenting, that the word "premiums" included considerations …