Derrick v. Lamar Insurance

Citations

• 74 Ill. 404

Syllabus

<p>1. Appeal—when may he prosecuted by one not named a party to the suit. Where, on a creditor’s bill, the cause is referred to the master in chancery to take proofs of all claims against the estate of the defendant which may be presented to the receiver, and a claim is sought to be proved before the master by a creditor who is not a party to the bill, and the master reports to the court that he has disallowed the claim, and upon exceptions taken to the report the court overrules the exceptions and sustains the report, an appeal on behalf of such claimant will lie to the Supreme Court.</p> <p>2. Assignment — of insurance policy, may be vacated if obtained by misrepresentation. Where a policyholder who had sustained a loss of property insured, was induced, by false representations of the officers of the company issuing the policy as to the ability of the company to pay its debts, to assign his policy for less than was due on it, to one who was acting for the company in settling its losses, in concurrence with the officers making the false representation, it was held that the assignment should be annulled and the policyholder entitled to recover on his policy in a court of equity.</p> <p>3. Limitation—clame of as to suit, in insurance policy, waived by fraud on part of company. A clause in an insurance policy limiting the right of action on the policy to a specified period of time is waived if the company, by fraud, or by holding out reasonable hopes of an adjustment, prevent the assured from bringing suit within the time limited.</p>