clear space clear space clear space white space
A
 r c h i v e s   o f   M a r y l a n d   O n l i n e

PLEASE NOTE: The searchable text below was computer generated and may contain typographical errors. Numerical typos are particularly troubling. Click “View pdf” to see the original document.

  Maryland State Archives | Index | Help | Search
search for:
clear space
white space
Alexander's British statutes in force in Maryland. 2d ed., 1912
Volume 194, Page 1022   View pdf image (33K)
 Jump to  
  << PREVIOUS  NEXT >>
clear space clear space clear space white space

1022 19 GEO. 2, CAP. 37, INSURANCE.
carrying their own goods in their own ship upon the voyage insured, per
Tindal C. J. in Devaux v. J'Anson, 6 Bing. N. C. 537, recognizing Flint v.
Flemyng, 1 B. & Ad. 45. If advances be made by the charterer on freight
simply on the personal credit of the owner, who is bound to repay the same
as a debt, independently of the issue of the voyage, the charterer has no
insurable interest in the amount so advanced as freight; but where, by the
terms of the charter-party, the charterer has a lien on the freight for his
advances (as by a right to retain it), he has an interest which he may
insure in general terms as freight (freight indeed must be insured eo
nomine), notwithstanding he may reclaim the amount on the failure of the
voyage. Lee v. Barreda, 16 Md- 190.5 And see Atwell v. Miller, 11 Md. 348,
that the circumstance of a shipper effecting insurance on freight is some
evidence that the freight was agreed to be at his (the shipper's) risk, and
the legal effect of the bill of lading may be qualified accordingly. Car-
riers also have an insurable interest, and an insurance "on goods" is
sufficient to cover their interest in the property under their charge, Crow-
ley v. Cohen, 3 B. & Ad. 478, where a gross sum was insured upon suc-
cessive cargoes during a certain time.
Valued policies.—The custom of making valued policies arose soon after
the passage of this Statute. The effect of a valued policy, in case of a
total loss, is to estop the parties from altering the valuation.6 But the
underwriter is not concluded from showing that the assured had no inter-
est, and in fact that it was a mere wagering policy within the Statute;
the parties only agree that, to avoid disputes as to the quantum, of the
assured's interest, it shall be estimated at a certain sum. If a policy dis-
penses with all proof of interest, it is within the Statute and void.7 If
the plaintiff must prove his interest, and the policy only saves him the
trouble of showing its amount, it is a valued policy and good, per Best C. J.
in Murphy v. Bell, 4 Bing. 567, where it was held that a policy, stipu-
lating "that the goods insured were and should be valued at five tierces
coffee, valued at 271. per tierce, say 135?.; that policy to be deemed suf-
ficient proof of interest," was void under the Statute.
Re-assurance—Payment into court.—Re-assurance was defined by Law
arguendo in Andree v. Fletcher, 2 T. R. 162, to be a contract of indemnity
between the original and a collateral insurer, by which the first is indemni-
fied by the latter from the risk he has undertaken in respect of the subect
insured. It is a partial substitution of the second in place of the first.
The first underwriter secures himself from the risk by throwing it on
others, who are termed re-assurers. As to double insurance, see Whiting
v. Independent Mutual Insurance Company, 15 Md. 297.8 With respect to
5
Cf. Merchants & M. Trans. Co. v. Ins. Co., 53 Md. 448.
6
See Schaefer v. Ins. Co., 33 Md. 109; Phoenix Ins. Co. v. Ryland,
69 Md. 437.
7
The words "full interest admitted" do not make a valued policy, but
imply that no proof of interest shall be requisite; hence such a policy is
void under the Statute. Berridge v. Ins. Co., 18 Q. B. D. 346 and cases in
note 4 supra.
8
Western Ass. Co. v. Chesapeake Co., 105 Md. 232.

 
clear space
clear space
white space

Please view image to verify text. To report an error, please contact us.
Alexander's British statutes in force in Maryland. 2d ed., 1912
Volume 194, Page 1022   View pdf image (33K)
 Jump to  
  << PREVIOUS  NEXT >>


This web site is presented for reference purposes under the doctrine of fair use. When this material is used, in whole or in part, proper citation and credit must be attributed to the Maryland State Archives. PLEASE NOTE: The site may contain material from other sources which may be under copyright. Rights assessment, and full originating source citation, is the responsibility of the user.


Tell Us What You Think About the Maryland State Archives Website!



An Archives of Maryland electronic publication.
For information contact mdlegal@mdarchives.state.md.us.

©Copyright  August 16, 2024
Maryland State Archives