Report of Cases Argued and Determined in the English Courts of Common Law Volume 97

Report of Cases Argued and Determined in the English Courts of Common Law Volume 97

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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. 1880 edition. Excerpt: ... name, and he had retained possession of it. An adjustment having taken place, the loss was settled, --in accordance with a usage prevailing at Lloyd's, which was found to be generally known to merchants and shipowners, but which the jur found was not known to the plainrijfl who had merely left the policy in W.'s hands for safe custody, -by the underwriter setting off the amount payable by him upon the policy against the balance due to him from the broker for premiums on other policies effectod by him: --Held, that, although the plaintiff was estopped from denying that the broker had authority to receive the amount due from the underwriter on the policy in money, he was not bound by the usage, and, consequently, that ho was entitled to recover the amount of the policy against the underwriter, notwithstanding such settlement. THIS was an action on a policy of insurance in the usual form on the ship Caroline and freight, on which the defendant was an insurer for 501., the declaration alleging a total loss. The defendant pleaded, --first, payment. Secondly, that Walton & Sons were the insurance-brokers and agents of the plaintiff, and after the loss were authorized by the plaintiff to adjust and settle the loss, which they did at 961. 13s. 9d. per cent.; that, at the time of the adjustment and settlement, Walton & Sons were indebted to the defendant on the account between them as brokers and the defendant as underwriter in a sum exceeding the defendant's proportion: and that, by the authority and with the sanction of the plaintiff, Walton & Sons accepted a credit in the account with the defendant as satisfaction. " Thirdly, that the plaintiff f employed Walton & Sons, who were brokers at Lloyd's, as his brokers to procure...show more

Product details

  • Paperback | 276 pages
  • 189 x 246 x 15mm | 499g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236929195
  • 9781236929198