Court : Chennai
..... evidence adduced before it, found fault with the driver of the said muthu meenakshi and concluded that her driver was rash and negligent in driving the vehicle on the road and he was responsible for the accident and assessed the compensation payable to the firs.respondent altogether at rs.59,500/- with 12% interest p.a.from the date of claim petition and with costs.4.the vehicle owner filed i.a.no.461 of 2004 before the claims tribunal to set at naught the ..... the second respondent/insurance company shall deposit the entire award amount together with interest at 12% p.a.from the date of claim petition till the date of deposit and cost, less amount already deposited by the appellant, within a period of four weeks from the date of receipt of a copy of this judgement ..... 6.the learned counsel for the appellant also submitted that the owner has insurance coverage with the second respondent and that has been completely overlooked by the tribunal 7.the learned counsel for the appellant also submitted that much water has flown under the bridge since the decision made by the tribunal there ..... 17.the contract of insurance as between the vehicle owner/insured and the insurer/insurance company is a bi-party, but it is a special ..... such circumstances, as per the decision in nanjappan v oriental insurance co.ltd.and others (2003(1)l.w.77) to invoke the principle of ''pay and recover''. ..... aspect has not been disputed by the appellant and also by the claimants and could not be by the insurance company. .....
Tag this Judgment!Court : US Supreme Court
..... of lindsay and of gray & pindar and directed them to account, and that instead thereof, a decree must be entered in their favor for the whole amount recovered on the policy, with interest (the ..... insurance broker is entitled to a lien on the policy for premiums paid by him on account of his principal, and ..... and if not, that any condition with which they thought proper to accompany such delivery, if not a breach of the arbitration bond, would at least be a trespass on good faith, and ..... and the same is hereby reversed and annulled, and this court, proceeding to pass such decree as the said circuit court for the district of south carolina should have passed, doth further order and ..... and of course long before judgment, dearborne ceased to have any interest ..... proof to the contrary, and where a party observes a ..... and of the policy mentioned in these pleadings, and ..... and 7 august, 1811, on account of the said ship, her cargo, pilotage, and repairs, and ..... principal of all liability; and ..... would revive and be protected ..... decree that the complainants pay to the defendant, john spring, of the firm of seth spring & sons, the whole amount of the judgment recovered against them on the policy on the ship abigail ann, mentioned in the pleadings in this cause, with interest ..... and ..... and none appears), even if he had never parted with its possession, is a proposition which may well be controverted, but if such lien ever existed (which is not asserted), it is not like that for the premium advanced for an insurance ..... interest .....
Tag this Judgment!Court : US Supreme Court
..... " "and in case the principal, interest, and premium, in the within obligation mentioned shall not be paid or satisfied within the said time, to dispose of the same at public auction and to charge the obligors with the balance that may remain due after deducting from the amount of said sales the freight, duties, commissions, and all other just and proper charges. ..... of new york to pay at the city of new york to the said the atlantic insurance company of new york, their successors or assigns, the said sum of $21,000, together with the said sum of $2,205, within three months from the time of such return and arrival, with lawful interest thereupon, from the time of such return and arrival, and shall and do well and truly pay the same accordingly at the expiration of the said three months, or if in the said ..... may arise in consequence of a seizure or detention for or on account of any illicit or prohibited trade or any trade in articles contraband of war, but that the lenders shall be liable to losses and averages, and entitled to the benefit of salvage in the same manner, to all intents and purposes, as underwriters on a policy of insurance, according to the usages and practices in the city of new york, and that in like manner the borrowers shall be subject to all the duties imposed on the assured by the usual policies .....
Tag this Judgment!Court : US Supreme Court
..... a valid claim for a given amount subsisting at the time of the loss, and which he had done everything that was required of him to enforce up to the time of the loss, and that it was such a claim, for instance, as he could have recovered a judgment for $5,000 or $6,000 or $8,000 and a judgment against that equity of redemption on that property, that was, for the purposes of this trial, an insurable interest, and an interest which he had on that property, whether by any course of events that ..... property might have been by subsequent events more or less affected, and for the purposes of this trial, the court ..... but aside from this consideration, if the plaintiff had an insurable interest at the time of issuing the policy and at the time of the loss equal to the amount insured, he had a complete and absolute cause of action against the defendants, and it was no concern of theirs whether he farther prosecuted his lien or not page 103 u. s. .....
Tag this Judgment!Court : US Supreme Court
..... broken or sunk vessel in specie, but as well that which it produces, and which is in truth her representative, and of which it is the meritorious cause and consideration; for the insurance is the price paid by the insurer to the insured as the purchase pro tanto of the thing insured, when damaged or lost, and, in the hands of the owner, or due to him, still remains as the value of an interest in the ship as that existed when damaged or lost, and ought to be accounted for as part of that value, as much so ..... it was the policy of the act to encourage the shipping interest by a protection against the unlimited personal liability of ship owners for the acts and defaults of their agents and representatives, with reasonable regard to the rights and interests of others engaged in the same pursuit, and not to put a premium on its destruction by taking away from ship owners a principal motive for regarding either their own or the interests of others, and the language of the statute seems to us, not only to bear ..... the principal question, stated generally, involved in all the cases is whether, under 4282 to 4285, inclusive, of the revised statutes, being reenactments of 1, 3, and 4 of the act of march 3, 1851, limiting the liability of ship owners so that for the losses specified it shall not in any case exceed the amount or value of the interest of such owner in such vessel and her freight then pending, that value shall be estimated as including or excluding any sum received or receivable .....
Tag this Judgment!Court : US Supreme Court
..... the decree gave no credit on the principal sum for payments on account of interest, but was for the amount actually received by the borrower in cash, and the sum paid by the mortgagee for insurance, with interest on the aggregate amount at six percent from the date of its rendition. ..... the latter executed to the company six coupon bonds, of $1,000 each, dated may 1, 1874, payable may 1, 1879, with interest semiannually at the rate of seven percent per annum, the principal and interest payable at the office of the company in new york. ..... a formal order for rehearing was made june 30, 1885, and entered as of october 31, 1884, and there was a final decree, january 11, 1887, in favor of plaintiff for $5,411.23, of which $5,381.83 was found to be the principal sum actually received by the defendants, and $29.40 to have been paid for insurance. ..... by a decree entered october 20, 1884, it was adjudged by the court that the plaintiff was entitled to recover $2,162.48 as the balance of the principal actually received by the defendants; $23.12 for insurance paid -- in all, $2,185.60. ..... seven percent of the interest was evidenced by the interest coupons attached to the six one thousand dollar bonds, and the remaining three percent was discounted for the five years, and deducted from the $6,000. ..... as security for the payment of the bonds and the interest thereon, the borrower conveyed to jonathan edwards, trustee, a lot in springfield, illinois, with the appurtenances thereon. .....
Tag this Judgment!Court : US Supreme Court
..... his duty as her agent, and created an interest or motive in him hostile to its discharge, or for the contention that if the company had not allowed the husband to do what he did, he would have paid the premium on the $5,000 policy, or would have informed ..... 189 without the assent of the assured, the subsequent failure to pay the accruing premiums did not alone warrant a forfeiture; that by the agreement of surrender, the insurance company did an act the tendency and purpose of which was to prevent future payments by the parties interested, and the company could not defend upon a default to which its own wrongful act contributed, and but for which a lapse might not have occurred. ..... trial, which was denied, the court holding that, as the papers purporting to be signed by the plaintiff were forged, the act of the defendant in accepting the attempted surrender of the $5,000 policy was procured by fraud, and was no more binding on it than the husband's dishonest act was binding on the plaintiff; that there was no justification in the evidence for the position that the act of the defendant seduced the husband from ..... he did not pay, and the principal must bear the consequences of his failure. .....
Tag this Judgment!Court : US Supreme Court
..... that, if taken advantage of, would require affirmative action on the part of the company -- that is to say, when the note was not paid at maturity, the company should have within a reasonable time thereafter notified the insured that in view of the fact that his note given in part payment of the premium upon the policy had not been paid, the policy, which was issued in consideration of such note, ceased ..... policy sued upon, appearing upon the face thereof, reads as follows:" " the iowa life insurance company, in consideration of the stipulations and agreements in the application herefor (a copy of which is hereto attached), and of the provisions and requirements upon the next page of this policy, all of which are a part of this contract, and in consideration also of the payment of seventy-four dollars and sixty-one cents, being the premium hereon for the first year, hereby promises ..... under the provisions and stipulations of these two instruments, by the passing of the insurance policy to the deceased and the note of the deceased and his promise to pay to the insurance company, the minds of the insurance company and the deceased met upon the conditions and provisions of the note, contract, and the application for the insurance, which made a part of the contract. ..... the case was tried to a jury and resulted in a verdict for the defendant in error for $3,000, the principal of the policy, with interest from january 1, 1900, $300 damages, and an attorney's fee of $500. .....
Tag this Judgment!Court : US Supreme Court
..... 578 annual taxes and insurance premium amount to $105, and admitted that administration charges said to amount to $22.75 must be paid from the rental ..... the present value calculated on a 6 percent basis, of all deferred payments (principal and interest) would be only 76.6 percent of the appraised value. ..... [ footnote 4 ] that act empowered the federal land banks and the land bank commissioner to lend farmers 75 percent of the normal value of their land at 4 1/2 percent interest for the first five years and 5 percent thereafter; no repayment of principal to be required for five years. ..... the aggregate payments of principal and interest prescribed would in no year before the end of the sixth be as much page 295 u. s ..... prescribed payment at the end of the sixth year is 85 percent of the principal, and as interest one percent of 85 percent of the principal. ..... prescribed payment for the fifth year is 5 percent on account of principal, and as interest, one percent on 90 percent of the principal. ..... prescribed payment for the fourth year is 5 percent on account of the principal, and as interest, one percent on 95 percent of the principal. ..... prescribed payment for the third year is 2 1/2 percent of the principal and as interest one percent on 97 1/2 percent of the principal. ..... 1932 and 1933, they made default in their promise to pay the installments of interest and principal. ..... prescribed payment for the second year is 3 1/2 percent thereof (one percent for interest, 2 1/2 percent on account of principal). .....
Tag this Judgment!Court : US Supreme Court
..... it is said, however, that a company investing "idle" assets in municipal bonds, and thereby adding exempt interest to its income, will pay more tax, and at a higher rate per dollar of taxable income, than if it had not made the additional investment at all. ..... life, the court struck down a provision of the federal income tax law which permitted insurance companies to exclude municipal bond interest from their gross income, and, at the same time, reduce the reserve deduction otherwise available to the company by the full amount of the exempt interest which was excluded from gross income, the result being that the company paid as much tax as it would have paid had the same total income been entirely ..... only the company's share is subject to the tax, and, from this share, the act permits a deduction of its pro rata amount amount of tax-exempt interest to arrive at taxable income. ..... -- the policyholders' share of each and every item of investment yield (including tax-exempt interest, partially tax-exempt interest, and dividends received) of any life insurance company shall not be included in taxable investment income. ..... whether viewed as income to the policyholders, or, as atlas would have it, as the principal cost of carrying on the business which produces the company's net investment income, [ footnote 17 ] a large page 381 u. s. .....
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