55 Pa. Super. 639 | Pa. Super. Ct. | 1914
Opinion by
The right asserted by the plaintiffs is based on two contracts entered into by the defendant with the German National Insurance Company and the German Insurance Company of Freeport, respectively. The controversy arises out of the provision contained in article two of the contracts relating to the compensation of the defendant who was by the contracts constituted general agent for said companies in the department of eastern Pennsylvania. The particular question for consideration is whether the clause relating to a contingent sum of money equal to ten per cent of the net profits of the business written for the first party in the territory under the management of the second party is enforceable in an action for the balance of premiums, etc., remaining in the hands of the defendant as such agent. The first computation was to be had on January 1, 1905, and annually thereafter, áiid it was further agreed that “If on calculation of the proceeds of the business in Article Two (2) of this Agreement an actual loss to the said party shall be exhibited, then the amount of such loss shall be deducted from the net profits, if any, of ' the
The contracts were entered into in anticipation of a course of business extending over a period of years,- and the provision for annual adjustments of the contingent compensation was made in view of this anticipation. It. is true as contended by the appellants that the claim only matures when there has been an ascertainment at
We are unable to agree with the contention of the appellee that the decision in Law v. Waldron, supra, is
The judgment is affirmed.