Missouri Appeal Reports Volume 86

Missouri Appeal Reports Volume 86

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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. 1901 edition. Excerpt: ...For this reason, and from the further fact that defendant did not declare a forfeiture for nonpayment of the note and tender the balance of the surrender value of the policy, the court did not err in 'refusing the first declaration of law requested by defendant to the effect that the policy was tpso facto forfeited by the mere nonpayment of_tl1e note for which it was a collateral security. The court was also right in refusing to declare there was any evidence that the policy in suit was surrendered or sold to the company for a full consideration to the holder. The terms of the contract and note utterly disprove this notion. They show conclusively that the transaction evidenced by them was merely a loan, and that the policy was delivered as collateral security upon an express agreement that the surplus of the collateral security, or in the words of the contract, "the balance of the surrender value beyond the amount of the loan," on nonpayment of the note, should be paid over to plaintiff and her husband. This language completely negatives the idea that there was any present sale or surrender in toto of the policy at the time the loan Was effected. The judgment in this case is manifestly right, and is afiirmedr All concur. I. Unincorporated Society: TRUSTEES: PRACTICE AND PLEADINGS. An unincorporated society may provide for trustees in whom their property may be vested and by whom and against whom all suits pertaining to the business of the company may be prosecuted. In the case at bar the defendant was the only necessary party, as he was the sole trustee and custodian of the funds for the payment of insurance claims against the Brotherhood. Colley v. Wilson.: JURISDICTION: EQUITABLE LIEN: ACTION. In the case at bar the...show more

Product details

  • Paperback | 232 pages
  • 189 x 246 x 12mm | 422g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236841549
  • 9781236841544