Coe v. Federal Reserve Life Insurance

251 P. 1102, 122 Kan. 382, 1927 Kan. LEXIS 39
CourtSupreme Court of Kansas
DecidedJanuary 8, 1927
DocketNo. 27,033
StatusPublished

This text of 251 P. 1102 (Coe v. Federal Reserve Life Insurance) is published on Counsel Stack Legal Research, covering Supreme Court of Kansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Coe v. Federal Reserve Life Insurance, 251 P. 1102, 122 Kan. 382, 1927 Kan. LEXIS 39 (kan 1927).

Opinion

The opinion of the court was delivered by

Marshall, J.:

The defendant appeals from an order overruling its demurrer to the petition of the plaintiff.

The plaintiff sued to recover damages for breach of a written contract, which read as follows:

“Whereas, It is important that The Federal Reserve Life Insurance Company shall enter other states for the purpose’of writing business therein; and
“Whereas, J. S. Coe is willing to undertake the work of procuring business and the renewal thereof for the company in the state of Oklahoma; and
“Whereas, Said Coe agrees to use his best endeavors in the work of building an organization in Oklahoma.
“Now, therefore, this contract made in duplicate this 19th day of December, 1922, by and between The Federal Reserve Life Insurance Company (a corporation duly organized under the laws of the state of Kansas, with its principal office in Kansas City, county of Wyandotte, state of Kansas), party of the [383]*383first part, and J. S. Coe, of Topeka, county of Shawnee, state of Kansas, party of the second part, witnesseth:
“1. Appointment.
“The first party hereby appoints the second party its general agent in and for the state of Oklahoma.
“2. Authority.
“Second party shall have authority (a) to procure applications for policies (defined as writing business); (b) to collect first year’s premiums; (c) to collect renewal premiums; (d) to appoint agents and others necessary in the carrying out of the second party’s work and his plan of organization for the procurement of said business and the renewal thereof; (e) to have absolute control of said organization; (/) to have the right to open offices anywhere he may see fit in any of the said states; (g) to do such advertising or circularization as he may wish to do at his own expense.
“3. Expenses op First Party.
“First party shall pay death claims and all expenses in connection with the company as ordinarily paid by life insurance companies, including medical examination and inspection fees, taxes, all licenses and fees; provided, however, that said Coe agrees to advance the necessary amounts to cover licenses and fees and/or taxes in the states herein named, with the understanding, however, that if and when said Coe shall have procured two hundred thousand dollars of paid for business in the states herein named, then said amounts which shall have been advanced by said Coe for licenses and fees and/or taxes in that state shall be refunded to said Coe; and this shall be the method and arrangement for all the states herein named, that is, opening and entering said state.
“4. Expenses op Second Party.
“Second party shall pay commissions and other compensation to all sub-agents or others employed by second party in the procurement of business, or renewal thereof, in any of the states herein named.
“5. Second Party May Make Contracts.
“Second party may make contracts with such subagents or others in the procurement of business, or renewal thereof, in any of the states herein named, on whatever contractual basis he may be able to make, and whatever difference, or differences, if any, between this contract and the contract thus made by second party with such subagents, or others, as aforesaid, shall go to second party and belong to him.
“6. Assistants.
“Second party shall have the power to appoint and employ such assistants and others as second party may see fit so to do, and second party shall also have power to give said assistants and others such appropriate titles as he may select; and second party may delegate any of the powers herein conferred on second party and may empower said assistants and others to act for him.
[384]*384“7. Compensation.
“Second party’s compensation shall be commissions on first-year premiums, and renewal commissions on nine subsequent premiums paid on all business written in the state herein named as follows, to wit:
Kind of policy. First-year commission.
Term policies ......... 95%
Twenty-payment life policies ......................... 95%
Ten-payment life policies ............................. 85%
Ordinary life policy ....._............................. 95%
Fifteen-payment life policies.......................... 90%
Twenty-year endowment policies...................... 75%
Fifteen-year endowment policies ...................... 70%
Ten-year endowment policies ......................... 65%
“8. Renewals.
“In addition to the commissions named in the foregoing schedule, second party shall receive nine renewals on the subsequent premiums on all policies written under this contract as follows, to wit: four renewal commissions of fifteen per cent each, and thereafter five renewal commissions of ten per cent each of the premiums paid on all policies written during the continuance of this contract.
“9. Duration of Contract.
“This contract shall become effective today and shall continue for a period of fifteen years from this date.
“10. Assignment.
“This contract and all compensation herein named may be assigned by second party to an associate hereinafter to be named by second party to first party.
“The above was substituted for section No. 10 and written by the company’s president in my own handwriting. — (Signed) Walter L. Payne, Pres.
“11. Changed or Converted Policies.
“If and when any term, life and / or endowment, policy may be changed from a lower to a higher premium, second party shall receive commissions, as herein provided, on the difference between the lower and higher premiums.
“12. Shall Not Affect Any Other Contract.
“The making of this contract shall not affect, in any wise, any contract heretofore made by and between said company and the second party to this contract.
“13. Opening State.
“Second party shall have the right to open or enter said state whenever second party finds it practicable to begin operation in said state; provided, however, if second party shall not have begun operation in the state herein named, within two years from the date of this contract, first party shall have the right to withdraw state herein named from this contract.
[385]*385“14. Acceptance.

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Cite This Page — Counsel Stack

Bluebook (online)
251 P. 1102, 122 Kan. 382, 1927 Kan. LEXIS 39, Counsel Stack Legal Research, https://law.counselstack.com/opinion/coe-v-federal-reserve-life-insurance-kan-1927.