A Treatise On Guaranty Insurance ; Including Therein As Subsidiary Branches the Law of Fidelity, Commercial, And Judicial Insurances Covering All Forms of Compensated Suretyship, Such As Official And Private Fidelity Bonds, Building Bonds, Court Bonds, Cr

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^ Nelson v. Am. Sur. Co., 77 Minn.
Bank of Aslieville t. F. & C. Co. of 402; 80 N. W. Rep. 300; see also Fid.
N. Y., 89 Fed. 819 ; 82 C. C. A. 855 ; & Cas. Co. of N. Y. v. Johnson, 72 Am. Sur. Co. v. Pauly, 170 U. S. 133. Miss. 833; 17 Sou. 2.
1 See Bice v. Fid. & Dep. Co., 103 217 § 89 LAW OF GUARANTY OTSTJEANOE. [PAKT III.
In a late case bearing on this immediate subject, it appeared that the insured had given a small note for a renewal pre- mium which was subsequently paid by check payable t
...o the insurer, who cashed the check and retained the money. A renewal policy was issued reciting the receipt of the premium, and in an action on the two policies the answer admitted the execution of the second policy. It was said that under such circumstances the insurer could not deny to the second policy the same effect as though the premium had been paid in cash at the time the note was given.^ The possession by the insured of the policy sued upon is prima facie evidence of the payment of the premium, and upon a demurrer to the evidence is conclusive.^ § 89.

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