Defendant, being indebted to plaintiff, assigned to him, as security, an insurance ori defendant’s life, and an insurance on the life of defendant’s wife, and covenanted (1) to pay the premiums, (2) that, if he did not pay them, plaintiff might pay them and defendant would repay plaintiff. PlainItiff sued defendant on tbis covenant, assigning, as breaches of covenant, (1) that defendant had not paid the premiums, and (2) that defendant had not paid to plaintiff’ premiums paid by plaintiff in defendant’s default. Defendant, to the whole declaration, pleaded his bankruptcy and certificate, averring that they had occurred after the execution of the deed, but not that they had occurred after the breaches had taken place. Held, on demurrer to the plea: that the plea gave no answer to the declaration, neither of the plaintifYs claims being a debt payable upon Contingency, within sect. 177 of The Bankrupt Law Corisolidation Act, 1849 (12 and 13 Vict. e. lOS), nor a liability to pay money upon a contingency, within sect. 178.
Citations:
[1855] EngR 595, (1855) 5 El and Bl 384, (1855) 119 ER 524
Links:
Jurisdiction:
England and Wales
Insolvency
Updated: 15 May 2022; Ref: scu.292517
