Biennial Report of the Attorney General Volume 6

Biennial Report of the Attorney General Volume 6

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1909 edition. Excerpt: ...well as conventional. The law will not compel a man to insist upon any benefit or advantage secured to him individually. Hence it was the privilege of the insurers in this case, if they elected so to do, to waive the condition making the actual payment of the premium a condition precedent to the binding efficacy of any insurance, as it was a provision inserted for their benefit and in which they alone were interested. This waiver may be established by evidence of an express waiver or by circumstances from which such waiver may be inferred; and it may be by the managers of the company or by a duly authorized agent." The opinion of the court in Gait v'. Nat. Protective Ins. Co. is cited with approval and quoted from in the recent case of Knarston v. Manhattan Ins. O'0., 140 Cal, 57. In the latter case the insured failed to pay his premium upon a life policy at the time the same became due. There was a provision in the policy that the policy should become void if the insured failed to pay the premium thereon when due. When the premium became due the insured asked for an extension of the time of payment, and such extension was verbally granted by a general agent of the insurance company. The verbal agreement of the general agent to extend the time of payment was held by the California court to be within the scope of his employment and to be a waiver of the provision of the policy that it should be void upon the failure of the insured to pay the premium when due. Section 1750 of the code contains the following provision: "Any officer, agent or representative of an insurance company doing business in this state, who may solicit insurance, procure applications, issue policies, adjust losses or transact the business generally of more

Product details

  • Paperback | 60 pages
  • 189 x 246 x 3mm | 127g
  • United States
  • English
  • black & white illustrations
  • 1236901274
  • 9781236901279