[Download] "Silverman v. New York Life Ins. Co." by Supreme Judicial Court of Massachusetts " eBook PDF Kindle ePub Free

📘 Read Now     📥 Download

eBook details

• Title: Silverman v. New York Life Ins. Co.
• Author : Supreme Judicial Court of Massachusetts
• Release Date : January 15, 1944
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 68 KB

Description

LUMMUS, Justice. On May 26, 1920, the defendant issued a policy of insurance in the sum of $5,000 to Casper Silverman upon his life. The policy provides that upon due proof before default in payment of premium that the insured, before the anniversary of the policy nearest his attainment of the age of sixty years, has become wholly and permanently disabled, the defendant during the continuance of the disability will waive future premiums, and 'one year after the anniversary of the policy next succeeding the receipt of such proof,' will 'pay the insured a sum equal to one-tenth of the face of the policy and a like sum on each anniversary thereafter during the lifetime and continued disability of the insured.' In 1931, at the age of fifty-seven years, the insured became wholly and permanently disabled, and furnished the defendant with due proof thereof. The defendant waived the premium due on May 26, 1931, and on each anniversary of that day through May 26, 1941. It made annual payments of one-tenth of the face of the policy on every May 26 through May 26, 1941. The disability never ended, and the insured died on January 1, 1942. The plaintiff is the administratrix of the estate of the insured, and seeks to recover a part of the annual payment proportionate to the period from May 26, 1941 to January 1, 1942. A Judge in a District Court allowed her to recover, and the Appellate Division dismissed a report. The defendant appealed. The general tendency of the law against apportionment is expressed by Gray, C. J., in Dexter v. Phillips, 121 Mass. 178, 180, 23 Am.Rep. 261, in these words: 'It is a general rule of the common law, followed in chancery, that sums of money, payable periodically at fixed times, are not apportionable during the intervening periods.' In that case a life tenant of a trust estate was held entitled to all the income receivable after the death of the testator though earned during a period beginning before his death. In Wiggin v. Swett, 6 Metc. 194, 39 Am.Dec. 716, it was held that the estate of an annuitant entitled to payment quarterly could get nothing for the quarter during which she died. Scott, Trusts (1939) § 238.1. It has been said that in the absence of statute the estate of an equitable life tenant in trust property who died between distribution days could get none of the income which became receivable after the last distribution day before he died. Adams v. Adams, 139 Mass. 449, 450, 1 N.E. 746. Compare Am. Law Inst. Restatement: Trusts, ss. 235, 238; Scott, Trusts (1939) §§ 235, 238. The two latter situations are now covered by a statute permitting apportionment. St.1848, c. 310, G.L.(Ter.Ed.) c. 197, § 27. Woods v. Gilson, 178 Mass. 511, 516, 60 N.E. 4, 61 N.E. 58; Adams v. Adams, 139 Mass. 449, 1 N.E. 746; White v. Stanfield, 146 Mass. 424, 436, 15 N.E. 919; Stone v. Bradlee, 183 Mass. 165, 172, 66 N.E. 708; Nutter v. Andrews, 246 Mass. 224, 142 N.E. 67; Ward v. Blake, 247 Mass. 430, 142 N.E. 52; National Shawmut Bank v. Morey, 301 Mass. 37, 16 N.E.2d 2.

PDF Ebook Download "Silverman v. New York Life Ins. Co." Online ePub Kindle