A father took on the life of his pupilson a policy of insurance whereby up to the son’s majority he, the father, might surrender, and in the event of the son’s death before that event would receive repayment of the premiums paid; on the son’s attaining majority he, the son, could maintain the policy by continuing payment of the premium, in which case the sum assured was payable to his executors or assignees on his death, or he might exercise certain options. The father retained the policy in his own custody. The son attained majority and died before a further premium was due. In a competition between the son’s executor and the father, held ( rev. judgment of the Court of Session) that the executor was entitled to the assured fund inasmuch as the son at his death had a jus quaesitum in the policy.
Judges:
Viscount Haldane, Viscount Finlay, Viscount Cave, Lord Dunedin, and Lord Shaw
Citations:
[1920] UKHL 547, 57 SLR 547
Links:
Jurisdiction:
Scotland
Insurance
Updated: 22 October 2022; Ref: scu.631538