117 Mass. 30 | Mass. | 1875
The defendant purchased the property insured, the policy was transferred to and accepted by him, and the transfer was assented to by the insurance company. The defendant thereby became a member of the corporation, liable to assessment as such. The only question presented upon this agreed statement is whether he had ceased to be so liable as a member when this assessment was laid; or rather, as we suppose must be intended, when the losses occurred for which this assessment was laid.
The extent of the right to assess was fully considered when this assessment was before us, upon the report of the auditor, for confirmation. Commonwealth v. Massachusetts Ins. Co. 112 Mass. 116. The question has been again discussed by the defendant in this case. If it is open under the terms in which the case is submitted to us, we are not led to doubt the correctness of our former conclusion.
It was held, upon the hearing before referred to, that dealings with the property by the assured, which might defeat his right of recovery upon the policy as a contract of indemnity, would not necessarily terminate his relation of membership and consequent liability to assessment. The obligation of each party depends upon its own conditions. Upon alienation of the property, provision is made for the substitution of the purchaser in place of the original assured as a member of the company, entitled to all his rights and subject to the same liabilities; or the policy may be surrendered and cancelled. In either case the original assured will cease to be a member. If he neither transfers nor surrenders, there can be no recovery by any one in case of loss. He cannot recover, because he has suffered no loss. The purchaser
Judgment for the plaintiffs affirmed.