SUPREME COURT.

Dominion, Volume 3, Issue 653, 2 November 1909, Page 6

SUPREME COURT.

PROFITS' 01? TONTINE INSURANCE!. ' ' A policy-holder, who had insured with the Colonial Mutual life Assurance Society, Ltd.', brought an application before his Honour Mr. Justioe Denniston at a Banco sitting of the Supreme Court: yesterday afternoon. Mr., Blair appeared for plaintiffs, William Boyd, farmer, and his ivife, Mary Boyd; the • Attorney-General,' Dr. Findlay,'-K.C.,'with Mr. Toogood, appeared for the defendant aim-: pany. The claim' arose out of'a : modified tontine policy on the life of William Boyd, issued by the defendant company in,; December, 1887. Plaintiffs claimed that;- by a representation in writing made by an agent, ,H. Palmer, the defendant company undertook that the . cash value of tho policy at the end of twenty years should bo ~£165. , At, the expiry of that term the company informed plaintiffs that the surrender value of the policy was ,£64 tiffs asked that the company should be ordered: either.to mike good the alleged. representation' of .£165, or pay back the premiums paid, amounting t0:.£109, with interest at 5 per cent., amounting to £86, or a total of .£195. • : ■ The caso, bad been before Mr. Justice Denniston;and a jury of four, elovsn months ago,, and the finding of the jury negatived fraud on .the part of tho agent,with regard to certain other representations alleged , to hayo . been made.' , ...... ~- •' .-•

Tho' question for the decision of the'.Court was whether a written document supplied by the company's agent, and headed "A, Good Invratment"''was a.representation' which tho company was bound to. mako :go6d. Tho com-pany-disputed- liability on the: ground-that the statements, in : tho document .we're set out as and., vcere not' in - any 'wijj binding on tho • cotnpany. . ,Mr. Blair contended that the company hid made a f also representation; having' named the profits at' considerably rnoro than tliey turred out to- be. • .-■■• • . Tho Attorney-Qfineral- truoted..authoritics« lo show that of-a. tontine policy Jfruj no.t entitled to rccover the difference, if any, betweori ;tho amoiint tMdorDd-by, tSo : .company J.and„,the.Jamount;i;epresonted.