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Treasury decisions under customs and other laws Volume 34

Treasury decisions under customs and other laws Volume 34

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1899 Excerpt: ...would be made that the stamp was canceled by mistake. In regard to policies surrendered for changes in terms or surrendered and canceled upon the return of all or any portion of the premium for any unexpired time, it is held that in both instances it is the pleasure and desire of the parties interested to so have the policy changed in terms or surrendered or canceled. That policy which was originally issued, and which did and must have had its appropriate stamp, is not longer desired. The original intent is changed, and a ruling is asked to meet this changed intention. It can not be granted. If it were, every deed, promissory note, draft, etc., that failed of its first intent would and could come in under such a ruling. If the policy is issued it must bear its stamp. If it fails of its purpose and intent, this office can not make a provision that would cover such a contingency. All insurance companies charge a premium, the amount of which is arrived at after due consideration of the percentage of lapses, deaths, accidents, changes, etc. These are contingencies almost mathematically determinable and this would seem to be all the protection that would be needed in such cases. This office can not afford any assistance on this point. The same holds good in reference to your installment insurance. This kind of insurance is effected for a period that is certain and for a premium that is fixed. Although the premium is payable in installments, it appears from your application blank, statement 13--"I wish the policy written for four consecutive periods of two, two, three, and five months, respectively, from the date below, each period covered by a distinct premium, to be paid respectively from my wages for the months of;and I agree that the policy shall embrace...