It is about seventeen years since the publication of the last comprehensive American treatise devoted to the law of Life I nsurance. This was the work of Bliss, the second and last edition of which appeared in 1874. The work of May, a new edition of which recently appeared, covers the subjects of fire and guarantee insurance, and almost necessarily gives a secondary and subordinate place to the important subject of Life I nsurance. The works of Bacon and Niblack, published in 1888, are confined to insurance by mutual benefit societies. The work of A lexander, published in 1887, is professedly confined to the law of a single State (N ew York). Hence there seems to be ample justification for the publication at this time, of a comprehensive treatise on the law of Life I nsurance, especially in view of the extremely rapid recent development of the law on this subject, particularly in its application to mutual benefit societies. What is true of the reported decisions generally, that their number is not only enormous, but increasing with an appalling rapidity, is, or is becoming, true of the decisions affecting the law of Life Insurance This circumstance tends to make more and more imperatively necessary, clear and correct statements of general and fundamental principles, such as shall serve as a guide and a clue amid the chaos of decisions that are so often obscure, as well as contradictory. This growing need I have endeavored to meet by an appropriate separation of the functions of text and notes. For the text, I have, as a rule, reserved the statement and exposition of general and fundamental principles, while in the notes are contained cases supporting and illustrating these principles, besides statements of mere exceptions to, and limitations upon, their operation. The law as it affects mutual benefit societies, is herein considered as fully as is the law aff
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