New-York tribune., 1876-10-24
DECISION OF LIFE INSURANCE CASES
OPINION OF THE UNITED STATES SUPREME COURT
IN Tie MISSISSIPPI CASES.


IN THE MISSISSIPPI CASES.
WASHINGTON, Oct. 23.-The United States
Supreme Court to-day decided three life insurance
cases which have attracted attention in the court
They are from Southern Mississippi and are cases In
which payment OF premiums was stopped by the war.
The question at the basis OF equitable settle
ment The decision in brief is as follows:
The New.York Life Insurance Company appellant agt
VIM c. staam and ParmeIa A. Dudley formerly PaLmeia
A. Statham Same agt Charlotte Seyln- Inc Mahhattah
executor Of Charles deceased all from the southern
District Of M pCa nna SfedF Tor ar he pSyment Of
annual premium by the assured WIN 10 De YOU
common re policy but the premiums constitute i annuity
entire assurance lie and the condition is condition sub
sequent making void the policy by ts non nance @ G
assurance single with privilege Of renewal from
entire contract life subject to dscontinuance
aud forfeiture for n1npayment OF any Oh tne & scPus m M
Character that the payment OF each
following wear a. in rr policies the position untenabe
Each n-tauent Is ia fact part consideration OF the Sre ~
life when he s young str02g ana htathy ~, @ la
no proper relation between annual premium and the risk Of
assurance for the wear IN when II - paid Inc eS o
All calculations Of the insurance company are basel on me
the receipt Of the premiums when due but on cpn9ong IN
eres upon he1 Denag'nSyb NJ b cSnG ennap Te % has aays
been the understanding aud pIacuce IN S a 20
DAYS, or other hxed period within which tle pre- pre-
mum ~ ne5 no arrSSr reSg nrstn but this is matter Of stpa
ation or Of discretion on the par Oh e i s
nd .c and cannot be invoked 10 revive contract which
it unjust nequiae TO revive IN the case OF me
insurance besides e mattay ot time N the m %
the contract another strong reason exists WB tlo poDy
should De revived The parties do not stand on e4aa
nnu, ~ , s n - avrrget that of ife insurance em
nently 90 rhe average rate mortality is the basis which
It rests. By spr adng the risks over large number
able certainty and safety Anything that inerferes with II
icTanee the cury of the business II eyery policy ase
by reason OF the war .houd be and the back pre-
Inums should be paid The companies would hNs the oegnr %
only the bad are sought 70 be revived ShSfe te
person lnsnta Is 2,n % han VI ny ny nav arTrsraes on the
Old To enforce revival OF tes the Gid Se cases csse
which are desirable. would be maniiestly unjust
aned for the policy Of lie insurance for
erd IKE those IN question by non payment OF the premium
the war The question arise must tie insured lose al
the money %a has P'eH np1 p2 must nSs they viii ii
tam an equal injustice to that which the ,o9Ga com
Perhaps it night be usi the failure had been youn
cl,. by AZ beyond the control Of either party an
event Nee & % a have qaT Se amount It a etrcd to him sa6
ect deduction or the value Of the aSsulan,e toysa
fairly entitled to have the equitable value Of his policy
which they asIte TO pay 10 @Is P.sa are Of dpi9on
the condition In these cases the policies IA question ION
premiums though aaSs 10y s the me e1snI nsT M 1n seon s
sciondy that snch failure being causei by public war;
without the fault u the assured, they are en-
trd II tygt0 et bono, 20 recover tne equitable
value Of the policies, with interest hom the close
NJ the II results from these CONCLUSIONS that
the several and DEGREES In the oasts before Us Oeug
I'M favor the plaintiffs for the whole sum assured must Oe
vr. and the cOTds remanded for further proceedings
Thr decree equity suit and the Judgment IN the aeuoh
reversed and the causes respectively ftlnAheu 20
be proceeded according to Law and the directions oi TINS
opinion. -. - -. -o,,ro
Miller fied and Bradley The other four members OF
follows Chief Justice waite SAID tIa
the Judgments In these cases should 80 reversed
the failure TO tie annual premiums as
% the policies, notwithstanding he
default w occaoued by war; hut he did not think mat
under such circumstances raises an implied
promise by company 10 the assured ~a nls pouy
gas cputahy worth nj the time. Justices CAnOi sIOhs
and diSstuted