88 N.J.L. 204 | N.J. | 1915
The opinion of the court was delivered by
We agree with the Supreme Court that the instrument on which the plaintiff sues is a policy of life insurance within the meaning of the act of 1907 (Pamph. L., p. 133, printed in Oomp. Slat., p. 2868, as pi. 9-4-105 inclusive). This act is a supplement to the act of 1902 to provide for the regulation and incorporation of insurance companies and to regulate the transaction of insurance business in this state. The regulation of the transaction of insurance business is an expression broad enough to include the transaction involved in the present case. If there were proof
The question then presents itself what effect do the requirements of that act that the policy shall contain certain provisions, have when in fact the policy does not contain them. If would he manifestly unfair to the assured to hold that the omission by the company of the statutory terms, renders the policy illegal or void, and there is nothing in the act, not even a penalty for the omission, to indicate that such was the legislative intent. It is clear, we think, that the legislature meant that the terms set forth in the act should he a part of every contract of life insurance. The fact that the act in terms relates only to policies does not militate against the
The judgment must be affirmed, with costs.
For affirmance—The Chancellor, Chief Justice, Garrison, Swayze, Parker, Minturn, Kalisch, Yredenburgi-i, White, Terhune, Heppenheimer, Williams, Taylor, JJ.. 13.
For reversal—None.