INSURANCE LAW
MATURITY OF ASSIGNED POLICY PROOF OF AGE ESSENTIAL. (Per United Press Association.) AUCKLAND, September 7. A judgment of importance to life assurance companies was given by Mr Justice Herdman in the case of Industrial Acceptance Corporation, Ltd. v. the Mutual Life and Citizens' Assurance Company, Ltd. The question for decision was whether the plaintiff, to whom the assured had assigned his industrial policy, will be bound, if no claim is made under the policy until it matures, to furnish proofs of age and survival of the assured. The judge said the assignee, because he was an assignee, could hav ( e no better rights than his assignor. If the policy had not heen assigned the assured would have been under an obligation to satisfy the company of his survival, and his Honor failed to see* that assignment of the policy made any difference. The assignee took the advantages, and must also~be subject to the obligations. The judge answered the question In the affirmative.
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Otago Daily Times, Issue 22053, 8 September 1933, Page 10
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164INSURANCE LAW Otago Daily Times, Issue 22053, 8 September 1933, Page 10
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