Page:Federal Reporter, 1st Series, Volume 7.djvu/181

 PENDLSTON V. ENICKSBBOOKEB IiIf'E INS. 00. l69 �Pendleton and others v. The Knickbbbocker Life Ins. Co. {Ovreuit Court, W. D. Tennessee. May 19, 1881.) �1. LiPE Inbdeanci! — Negotiabub Dkaft for Premium — Non-Pay- �MENT — FOKFEITTTKE. �If a life insurance company take a negotiable draft in payment of the premium, it is subject to all the requirements of the commercial law in regard to presentment for acceptance and payment, and notice of non-acceptance or non-p^yment, whlch must be given or excused to entitle the company to the beneflt of a forfeiture provided for in the policy, and the draft itself, if it shall not be pajd at maturity. The charge of the court in this case, reported in 5 Fed. Bbp. 238, re-afflrmed on motion for a new trial. �2. Same Sdbject — NBaoTiABLE Instbumknt — Waivbb of Pkotest �AND NoTtCB. �A draft in the f ollowing words is negotiable under the law mer- chant, and entitled to protest and notice, although the policy to which it refers contains a clause that the policy shall be void, "without notice to any party or parties interested herein," if the said draft shall not be paid at maturity, viz.: �" $325. AUBURN, Abk., July 14, 1871. �" Three months after date, without grace, pay to the order of the Knickerbooker Life-Insurance Company three hundred twenty-flve dollars, value received, for premium on policy No. 2346, which pol- icy shall become void if this draft ia not paid at maturity. �, " S. H. PaHDLETON. �" 2'« Moses Oreenwood e Oo., New Orleans, La." �Motion for New Trial. �This was an action on a policy of life insurance for $10- 000, and there was a verdict for the plaintiffs. The defences made and the facts of the case appear in a report of the trial found in 6 Fed. Ebp. 238. The charge of the court will be found in that report, and, in addition to the exceptions taken to it on the motion for a new trial, it was assigned for error that the court refused the following requests for instruc- tions to the jury, offered by the defendant company : �(1) That the reception of this draft for $325 by the defendant, on account of premiums, imposed upon the drawer or the plaintiffs the duty of making absolute provision for its payment at maturity at the place of payment; and, if he or they failed to do se, the defendant was under no obligation to- present the same for payment. �(2) That the refusai of the drawees to accept the draft, when presented ��� �