Daily press and Dakotaian. [volume] (Yankton, Dakota Territory [S.D.]) 1875-1880, 1879-10-22

In TIE SUPREME COURT OF TIE Tenn.
TORY OF Dakota, AT DECEMBER TERM,
1878.
MARIANA X. CLEvENGER.
IHE MUTUAL LIFE INSURANCE COMPANY.
OF New YORK, appellant.
Appeal from the District Court of Yank.
ton county.
Gamble Brothers, attorneys for appellant.
oliver Shannon. attorney for respondent.
Continued from yestcrday.l
Next we observe the stipulation or pro-
vision OF this contract providing for the
surrender Of the policy Of insurance should
the assured desire to DO 30, which is az
follows:
Should the original motive for efecting
an insurance in this company cease, the
party may on application in accordance
with the company's rules, surrender his
" policy for ar equitable consideration,
" which will be paid to him in cash by the
" company. Or if it is found inconvenient
to continue the payment Of the annual
= premium the company will after two
:" years premiums have been paid, grant a
new policy which without further pay.
" ment will assure to the representative oil
:. the party at his death a reversionary
:. sun equivalent to the present value on
surrender of the original policy, provided
application for such paid up policies
!: be made within sixty days after lapse Of
" original policy"
We here insert the following, which ap.
pears on plaintiffs application
&C Nnf:ro-Th;o 1900
only in payment Of premiums. No policy
. Is binding until the premium has been
" paid. Statements will not be recognized
in writing upon this application"
important part of the policy of insurance.
which we here insert in full :
"No alteration of the terms of this
" contract shall be valid, and no forfeiture
" Hereunder shall be waived, unless such
=" alteration or waiver shall be in writing,
" and signed by the president or secretary
" has authority to make, alter, or discharge
!" contracts. waive forfeiture, extend credit,
. grant permits, or make an extra rate for
" special risks. And inasmuch as the is
=" suing of each policy is decided by the
" officers of the company at the general
" Office in the city of New York, and as
" they act upon the written statement and
" representations %hereinbefore referred to,
" it is expressly agreed that no statements
" or information, made or given to the per-
" son procuring or transmitting the appli-
" cation, or Ia any other person %(unless
" such statements or information shall have
" been reduced to writing in said applica-
" tim on1 nroconfoI IN tho oToo,o ~ a..
" company at the general Office in the CITY
" of New York. shall bind the company
" or in any way effect it's rights"
From the foregoing etipulations, forming
a part of the contract, it Enthusiastically ap.
we'll the plaintiff as the defendant, intended
to provide against any change in the con.
tract, either by adding to or taking from it
and tina. the parties thereto expressly agreed
that no statement or information made o.
given by the agents should be binding, un
less reduced to writing, made a part Of the
application, and forwarded to the home
Office of the company, and there approved
and sanctioned and that there should be
no opportunity thereafter for a misunder.
standing or disagreement between the
parties to the contract, as appears from the
evidence, each Of the sixteen quarterly re.
ceipts issued by the company to the assured
contained a notice that the agent was not
authorized 10 make, alter or discharge con.
tract, or waive forfeitures; and especially
calling the attention of. the assured to the
terms of the mutual agreement embraced
in the application and policy.
of insurance, that every policy holder in
"The Mutual Life Insurance Company Of
New York." becomes a member of the cor
date Of the issue Of the policy to the plain
thousand four hundred and ninety.four.
Second-That plaintiffs application, the
policy Of insurance embracing stipulations
and notices constitute the contract and
agreement Of the parties.
Thirdly the terms of this contrac
everything pertaining to this contract, anc
the adjustment Of all questions under it, il
to be on q just and equitable basis, having
due regard to the rights and interest o
every member Of the corporation or organ
%ization.
Third-The parties to this contract plain
Tiff and defendant, agree, that no stipulation
or agreement shall be in force unless il
writing.
Fourth-In accepting the application ant
forwarding the ~policy-and we must ga,
from abundant caution. the attention of tn
assured is again called to the terms of TIL
contract, and to the fact that thu
agent can make no statement, con
tract or agreement that will be re
cognized by the company, or BY which
the company will be bound, unless il
writing, and signed by the president or Sc
cretary of the company.
The policy, this statement or stipulation
forming a part Of it, was accepted by tn
plaintiff, retained by her, and after its &C
ceptance, she makes fifteen payments upol
i it. and each and every time of making
payment, she receives a receipt containing
a notice that agents are not authorized I
make or alter contracts.
By the terms of this contract it is appa,l
ent that it was the intention, as we'll as tn
express agreement in plain terms, to pr
vide for the sale or exchange of plaintiff
:. nolicy. should the plaintiff 40 desire, an
mon such terms as should be just and ECU
m 1 ~HO -.l--aLa o.,,~nI n oh