129 Iowa 13 | Iowa | 1905
As the result of negotiations for a $20,-000 endowment policy in the defendant company, under a
We have no doubt that a valid contract for insurance might be made in contemplation of the .issuance of a policy in the future on such contingency as the parties might agree to, and that a premium note, executed and delivered in pursuance of such contract, even before the policy was issued or any binding contract of insurance was entered into, would be valid, and that the remedy of the person thus contracting for insurance and executing the premium note, in case the policy was not finally issued, would depend on the terms of such contract; but the question here is whether such a contract was made and the premium note was so delivered as to make it a binding obligation.
The evidence on behalf of plaintiff is to the effect that the agent to whom the application and note Avere delivered received them with the agreement and understanding that they were to be deposited in a bank until plaintiff “ Avas satisfied that everything was right.” There had been negotiations in which statements had been made by the agent as to insurance having been contracted for on the same plan by influential and prominent persons of plaintiff’s acquaintance,
Some question is made as to the right of plaintiff to recover the full amount of the note, with interest thereon from its date, but it appears that the note was negotiated before maturity by the agent of defendant, to whom it was
It is further urged that the judgment is excessive, in so far as it includes interest on the note from date to the rendition of judgment, it not appearing that the note provided for the payment of interest; but the court was justified in adding interest on the amount of plaintiff’s damages from the time of conversion, regardless of whether the note provided for interest. Moreover, no complaint that the verdict was for an excessive amount was made in the trial court, and that question cannot now be raised on appeal.
The judgment is therefore affirmed.