IMPORTANT JUDGMENT
ASSIGNMENT OF POLICY. (By Telegraph—Press Association.) AUCKLAND, Sept. 7. A judgment of importance to life assurance companies was given by Mr Justice Herdman in the case of the Industrial Acceptance Corporation Ltd. v. the Mutual Life and Citizens’ Assurance Co., Ltd. The question for decision was whether the plaintiff, to whom the assured has assigned his industrial policy, will be bound, if no claim is made under the policy until it matures, to furnish proofs of age and survival of the assured. The judge said that the assignee, because he was an assignee, could have no better rights than his assignor. If the policy had not been assigned the assured would have been under an obligation to satisfy the company of his survival and His Honour failed to see that the assignment of the policy made any difference. The assignee took the advantages and must also be subject to the obligations. The judge answered the question in the affirmative.
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Hawke's Bay Tribune, Volume XXIII, Issue 227, 7 September 1933, Page 7
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161IMPORTANT JUDGMENT Hawke's Bay Tribune, Volume XXIII, Issue 227, 7 September 1933, Page 7
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