Hahnemannian Life Insurance v. Beebe

Citations

• 48 Ill. 87

Syllabus

<p>1. Bibel—action therefor by a corporation. A domestic corporation may maintain an action for libel; but qucere, whether the comity by which a foreign corporation is permitted to bring suit in our courts upon its contracts, should be so far extended as to permit a suit for libel.</p> <p>2. Same—what constitutes a libel upon a corporation. If an insurance company has procured a charter which authorizes it to pay an interest of thirty per cent, per annum to its stockholders, before laying by a fund for the security of its policy holders, a publication cannot be held libellous, merely because it assumes that the company will do, for the .profit of its stockholders, that which it has obtained an express power to do, and because it argues that a company, organized under such a charter, must necessarily be unworthy of public confidence.</p> <p>8. A free criticism of the charter of an insurance company, or of any oth er corporation which claims the confidence of the public, and seeks the possession of its funds, is to be encouraged rather than repressed, as a means of public security ; and it would be against public policy to treat as libellous an article which merely assumes that an insurance corporation proposes to do for its own advantage, or that of its stockholders, whatever its charter may expressly authorize it to do.</p> <p>4. If, however, the charter contains no authority to do that which is made the subject of criticism, and the company does not propose to do its business in the method which is objected to, the publication may be libellous,</p> <p>5. Pleading—of ike dedaraiionin an action for libel. In an action by a foreign corporation, for an alleged libel, on demurrer to the declaration, it was Add, that the charter of the plaintiff should be set out at length, in order that it might be seen whether the publication was false in stating the mode in which it authorized the business of the company to be done, and which was the subject of the criticism which con