Schofield v. Leach

Citations

• 15 Pa. Super. 354
• 1900 Pa. Super. LEXIS 356

Syllabus

<p>Mutual insurance company — Assessments to pay losses.</p> <p>Where a receiver has been appointed for a mutual insurance company and assessments made on policies Issued to defendant in strict accord with the decree of the Dauphin county court, it is settled that such policies are liable for such assessment, and that the assessments are conclusive as to their validity and amount. A policy holder is liable for these assessments when made to pay losses accruing during the life of the policy issued to him, even if the policies had been surrendered.</p> <p>Mutual insurance — Assessments—Laches in setting up fraud.</p> <p>When a policy holder in a mutual insurance company allows two years to intervene between the date of his policies and surrender of same, during which time he pays several assessments, he allows the rights of other parties to intervene, and he must contribute his share towards paying the - same.</p> <p>A delay of one year has been held an unreasonable time to withhold the defense of alleged fraud in inducing the policies to be taken out.</p>