Smith v. Binder

Citations

• 75 Ill. 492

Syllabus

<p>1. Insurance — right of company to premium in hands of agent after its insolvency. Where money paid to an agent of an insurance company has not been paid over to the company, or accounted for to it, the company, having in the mean time become insolvent, cannot maintain an action for its recovery, as the consideration for which it was paid has failed.</p> <p>3. Same—right of party to recoven' hack premium in hands of an agent of an insolvent company. Where a party insuring has paid the premium to the agent of the company, and before the agent has paid over the same, or assumed any liability on account of it, the company becomes insolvent, and such party notifies the agent that he claims the money, and does not rely upon the policy issued to him, which is worthless, he may recover back the premium in a suit against the agent, even though he does not surrender the policy until after suit brought.</p> <p>3. Agent — liability of, for money paid to Mm by another which he refuses to repay. Where a contract has been rescinded, or a person has received money as agent of another, who had no right thereto, and has not paid it over, an action may be maintained against the agent by the party entitled to it, to recover the money; and the mere passing such money in account with his principal, or making a rest without any new credit given to him, fresh bills accepted, or further sums advanced to the principal in consequence of it, is not equivalent to a payment of the money to the principal. But, in general, if the money be paid over before notice to retain it, the agent is not liable.</p> <p>4. Instructions — when trivial errors in, will not reverse. Where the verdict and judgment are clearly right from the evidence, this court will not reverse for trivial errors in the giving or modifying of instructions.</p>