The Amicable Society for a Perpetual Life Assurance Office, - Appellants; James Bolland, Joseph Hare, and Matthias Koops Knight, - Respondents
| Jurisdiction | England & Wales |
| Judgment Date | 01 January 1830 |
| Date | 01 January 1830 |
| Court | High Court of Chancery |
English Reports Citation: 5 E.R. 70
COURT OF CHANCERY.
Mews' Dig. viii. 75. S. C. 2 Dow & Cl. 1; and, in Court of Chancery, 3 Russ. 351 (Bolland v. Disney; Fauntleroy's Case). Considered in Cleaver v. Mutual Reserve Fund Life Association, [1892] 1 Q. B. 149. See also Borradaile v. Hunter, 1843, 5 M. & G. 639; Clift v. Schwabe, 1846, 3 C. B. 437; Dufaur v. Professional Life Co., 1858, 25 Beav. 602; and Horn v. Anglo-Australian Co., 1861, 7 Jur. N. S. 673.
IV BLIGH N. S. AMICABLE SOCIETY V. HOLLAND [1830] [194] ENGLAND. COURT OF CHANCERY. the amicable society for a perpetual life assurance office,-Appellants; james bolland, joseph hare, and matthias koops knight,- Respondents [1830] [Mews' Dig. viii. 75. S.C. 2 Dow^Cl. 1; and, inlCourt of Chancery, 3 Russ. 351 (Holland v. Disney; Fauntleroy''s Case). Considered in Cleaver v. Mutual Reserve Fund Life Association, [1892] 1 Q. B. 149. See also Borradaile v. Hunter, 1843, 5 M. & G. 639; Clift v. Schwabe, 1846, 3 C. B. 437; Dufaur v. Professional Life Co., 1858, 25 Beav. 602; and Horn v. Anglo-Australian Co., 1861, 7 Jur. N. S. 673.] In the year 1815, a contract, called a policy.of insurance, was made by F. with the Amicable Insurance^Company, by which F. agreed to pay £128 15s. yearly to the Society, according to the provisions of the bye-laws, and in consideration of these payments F. was admitted a member of the Society, who bound themselves and their successors to pay to the executors, administrators, or assigns of F. such a share of the joint-stock as should become due upon his death, according to the charters and bye-laws of the Society. The annual payments^were made by F. to the Society for ten years. In 1820, F. assigned all his interest under the policy, without consideration, upon certain trusts for a nominee in the indenture of assignment. In 1824, F. was convicted ofj felony and executed, having the day before his conviction been declared a bankrupt. Upon a bill filed by his assignees against the Society, the nominee, and the trustees, claiming the benefit of the policy : Held in the Court below that they were entitled to the relief prayed. But this decision was reversed on appeal, upon the ground, that the contract was against public policy, and must be considered and construed as if a clause had been inserted in terms insuring against the event of the commission of a capital felony by the party insured. In Hilary term, 1825, the Respondents filed a bill in the Court of Chancery against James Cathrow Disney, and Ann Nelson his wife, Sir Everard [195] Home Bart., Joseph Birch, Jedediah Kerie, and the Appellants, stating, (among other things) that for many years previous to, and in September, 1819, Henry Fauntleroy carried on the trade and business of a banker, in partnership with William Marsh, Josias Henry Stracey, and George Edward Graham, under the style and firm of Marsh, Stracey, Fauntleroy, and Graham :- That in the month of January, 1815, Henry Fauntleroy effected an insurance upon his life, with the Appellants, the incorporated Society for the insurance of lives, called " The Amicable Society for a Perpetual Assurance Office," which policy bears date the llth of January, 1815, whereby, after reciting that Henry Fauntleroy had paid to the Society the sum of £25, by way of premium on his admission, and the further sum of £128 15s. as the first yearly payment of the annual sum of £128 15s., which Henry Fauntleroy had agreed to pay yearly to the Society, according to the provisions of the bye-laws of the Society, it was witnessed, that in consideration of the premises Henry Fauntleroy was thereby admitted a member of the Society on, Nos. 6025, 6026, 6027, 6028, 6029, 6030, 6031, 6032, 6033, 6034, 6035, 6036, 6037, 6038, 6039, 6040, 6041, 6042, 6043, 6044, 6045, 6046, 6047, 6048, 6049 ; and the Society thereby bound themselves and their successors to pay to the executors, administrators or assigns of-Henry Fauntleroy, such a proportion or share of the joint-stock and fund of the Society as should become due upon the death of Henry Fauntleroy, according to the charters and bye-laws of the Society :- That such policy of assurance was signed by [196] the directors, and sealed with the seal of the Society, and Henry Fauntleroy from the time of the making of such 70 AMICABLE SOCIETY V. HOLLAND [1830] IV BLIGH N. S. policy of assurance until the time of his death, regularly paid the premiums as they became due upon the policy of assurance, and that such policy of assurance was, at the-time of his death, a valid and subsisting policy of assurance, and that there was then due and payable thereon, or in respect thereof, according to the charters and bye-laws of the Amicable Society, a sum of money, amounting to £6000 and upwards : i- That Henry Fauntleroy;being so possessed of and entitled tothe said policy of assurance, some time in the month of January, 1820, executed an indenture bearing date the 10th day of September, 1819, and which was made and executed by and between Henry Fauntleroy on the one part, and Sir Everard Home, Baronet, and Joseph Birch, Esq. of the other part, whereby, after reciting the policy of assurance, and that Henry Fauntleroy had agreed with Sir Everard Home and Joseph Birch to assign all his right, title, and interest in the policy, and the money secured thereby, and to become due thereon upon his death, it was witnessed, that in pursuance of the agreement, and in consideration of 5s. to Henry Fauntleroy, paid by Sir Everard Home and Joseph Birch, Henry Fauntleroy bargained, sold, and assigned the policy of assurance, and all sums of money secured thereby, or to become due thereon, and all his estate, and interest, etc., to have, receive, take, keep, possess, and enjoy the policy, and sums of money and premises, unto Sir Everard Home and Joseph Birch, their executors, ad-[197]-ministrators, and assigns, thenceforth as to and for their own proper estate, goods, chattels, monies, and effects :- That Sir Everard Home and Joseph Birch, executed a declaration of trust, bearing date the 19th of September, 1819, whereby they declared that the before written assignment was made to them in trust for the benefit of Ann Nelson Macnamara, otherwise Cathrow, commonly called Cathrow, whose maiden name was Ann Nelson Peele, and that they would stand...
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