The American Law Times Reports, Volume 41877 - Law reports, digests, etc |
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Page 6
... payment in such policies is material , and of the essence of the con- tract ; and failure to pay involves an absolute forfeiture , which cannot be relieved against in equity . If failure to pay the annual premium be caused by the ...
... payment in such policies is material , and of the essence of the con- tract ; and failure to pay involves an absolute forfeiture , which cannot be relieved against in equity . If failure to pay the annual premium be caused by the ...
Page 7
... pay the said premium on or before the several days herein before men- tioned for the payment thereof , then and in every such case , the said com- pany shall not be liable to the payment of the sum insured , or in any part thereof , and ...
... pay the said premium on or before the several days herein before men- tioned for the payment thereof , then and in every such case , the said com- pany shall not be liable to the payment of the sum insured , or in any part thereof , and ...
Page 8
... payment is essential in the business of life insurance . All the calculations of the insurance company are based on the hypothesis of prompt payments . They not only calculate on the receipt of the premiums when due , but on compounding ...
... payment is essential in the business of life insurance . All the calculations of the insurance company are based on the hypothesis of prompt payments . They not only calculate on the receipt of the premiums when due , but on compounding ...
Page 9
... pay any of the instal- ments when due , the contract should be at an end and the previous pay- ments forfeited ; and suppose that this condition was declared by the parties to be absolute and the time of payment material . Now if some ...
... pay any of the instal- ments when due , the contract should be at an end and the previous pay- ments forfeited ; and suppose that this condition was declared by the parties to be absolute and the time of payment material . Now if some ...
Page 10
... payment of pre- miums , and to hold the contract ended by reason of non - payment , they cannot with any fairness insist upon the condition as it regards the for- feiture of the premiums already paid . That would be clearly unjust and ...
... payment of pre- miums , and to hold the contract ended by reason of non - payment , they cannot with any fairness insist upon the condition as it regards the for- feiture of the premiums already paid . That would be clearly unjust and ...
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