macaura v northern assurance co ltd

| University of Waikato. Macaura v Northern Assurance Co Ltd [1925] AC 619. Facts: The owner of a timber estate sold all the timber to a company in which he owned almost all the shares. WTLR Issue: September 2013 #132. He sold the land and timber to a company he formed and received as consideration all the fully paid shares. The company carried the business of felling and milling timber. He then sold the whole of the timber thereon to a timber company in consideration of fully paid up shares in the company. Macaura v Northern Assurance Co Ltd CourtHouse of Lords Decided3 April 1925 Citation AC 619 Court membership Judge sittingLord Sumner, Lord Buckmaster, Wrenbury, Atkinson … Macaura insured the timber in his own name. MACAURA V NORTHERN ASSURANCE LTD (1925) (for illustration purpose) Macaura own land on which stood timber. Case: Macaura V v Northern Assurance Co. Ltd. [1925] AC 619 Macaura owned an estate. Two weeks later, the timber was destroyed in a fire. Macaura v Northern Assurance Co Ltd [1925] AC 619 appeared before the House of Lords concerning the principle of lifting the corporate veil.Unusually, the request to do so was in this case made by the corporation's owner. Macaura v Northern Assurance Co Ltd AC 619 appeared before the House of Lords concerning the principle of lifting the corporate veil. MACAURA v NORTHERN ASSURANCE CO LTD (1925) Macaura own land on which stood timber. In Macaura v. Northern Assurance Co. Ltd (1925) AC 619 the subject matter of insurance was timber which had been sold by the insured to a company in which he was the sole shareholder and a substantial creditor of the company. Macaura had insured the timber against loss of by fire in his own name. Prest v Petrodel Resources Ltd & ors [2013] UKSC 34. Cases & Articles Tagged Under: Macaura v Northern Assurance Co Ltd [1925] AC 619 | Page 1 of 1. A … Macaura insured the timber, that he had sold, in his own name. Unusually, the request to do so was in this case made by the corporation's owner. Daimler Co Ltd v. Continental Tyre & Rubber Co Ltd, (1916) 2 AC 307; Macaura v. Northern Assurance Company (1925) AC 619; Vodafone International Holdings v. Union of India (2011) 198 Taxman 418 (SC) RC Cooper v. Union of India, (1970) 1 SCC 248; Bennet Coleman And Co. vs Union of India And Ors. Macaura v Northern Assurance Co Ltd. ... Dalby v India & London Life Assurance Co. Michael Prest (husband) and Yasmin Prest (wife) were married for 15 years and had four children before the wife petitioned for divorce in March 2008. He sold all the timbers on the estate to a company where all the shares in the company were owned by him. Macaura v Northern Assurance Co Ltd {Facts} Macaura own land on which stood timber. Macaura v Northern Assurance Co Ltd (1925) AC 619. The company carried the business of felling and milling timber. But he had not transferred the insurance policy to the company name. He sold the land and timber to a company he formed and received as consideration all the fully paid shares. A fire destroyed all timber which had been felled. The timber was destroyed by fire and Macaura sought to recover the money from the insurance company. Held: in order to have an insurable interest in property, a person must have a legal or equitable interest … Macaura v Northern Assurance Co Ltd [1925] AC 619 Case Summary 5th Jan 2021 Introduction: A case study in members interests in company property. He insured the timber against fire policies. Of Lords concerning the principle of lifting the corporate veil company carried business! Shares in the company macaura sought to recover the money from the insurance company timber to a company formed... Concerning the principle of lifting the corporate veil on the estate to company...: the owner of a timber company in consideration of fully paid shares that he sold! 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