Imbrie v. Manhattan Life Insurance

Citations

• 178 Pa. 6
• 35 A. 556
• 1896 Pa. LEXIS 1123

Syllabus

<p>Insurance — Life insurance — Authority of agent — Taking promissory note for premium where policy requires cash — Ratification.</p> <p>A policy of life insurance provided that the premiums should be paid in cash, and stipulated that no provision of the contract could “ be changed or waived except by written agreement signed by the president or secretary of the company.” The insured gave his promissory note to the agent, and the company subsequently took the note with other notes in settling a balance against the agent. The company claimed that it took the note merely as collateral security for the amount of the balance due by the agent. The agent testified that he took the note as payment from the insured, and that he gave it to the company in part payment of his balance'. Before the note matured the company, with knowledge that it was outstanding, notified the insured to pay the premium for the ensuing year. Held, that the question as to whether the company had ratified the act of the agent in taking the note was for the jury.</p>