(0 Coombes v. Dibble, L. R. 1 Ex. 243; 35 L. J. (Ex.) 167.
(k) 3 Burr. 1905; 1 Smith, L. C. 550, 8th ed.
This Act applies to all subjects of insurance except marine risk, and these are provided for by the insertion of a similar prohibition contained in 19 Geo. II., c. 37, s. 1, enacting, that no insurance shall be made on any ship belonging to his Majesty or any of his subjects, or on any goods, merchandise, or effects, laden or to be laden on board thereof, interest or no interest, or without further proof of interest than the policy, or by way of gaming or wagering, or without benefit of salvage to the assurers. And it is decided that one who has any interest may be insured to the extent of it, and any one may be considered to have an interest, who may be injured by the risks to which the subject(l) Paterson v. Powell, 9 Bing. (23 E. C. L. R) 320. (m) Cook v. Field, 15 Q. B. (69 E. C. L. E.) 475.
Matter *is exposed, or who but for such risks would have an advantage in the ordinary and probable course of things (n).
It having been enacted by the statute 14 Geo. III., c. 48, that no insurance shall be made by any person on the life of any person, or on any other event whatsoever, wherein the person for whose use, benefit, or on whose account such policy shall be made, shall have no interest, and that every assurance made contrary to the intent thereof shall be null and void, it is important to ascertain what is to be considered as an interest in the event within the meaning of this statute. It is clear that a creditor has an interest in the life of his debtor (o), that a trustee may insure for the benefit of his cestui que trust (p), that a wife has an interest in her husband's life (q), and that a man may assure his own life, which is the common case of every day's experience; but he cannot evade the statute by doing so with the money of another, which other is to derive the benefit of the assurance, and has no interest in his life, since so to do would be virtually *enabling a person to effect an assurance on an event wherein he has no interest (r). It is also required that in every policy on the life of another the name of the person really interested when the policy is effected, or for whose benefit it is effected, must be inserted as the person interested, and the omission or erroneous statement of the person interested, avoids the policy, whether a wagering policy or not (s).
(n) Lucena v. Craufurd, 2 B. & P N. R. 300; Briggs v. Merchant Traders' Shipping Assurance Association, 13 Q. B. (66 E. C. L. R.) 167; see Dalby v. India London Life Ass. Co , 24 L. J. (C. P.) 2; 15 C. B. (80 E. C. L. R.) 365, in Ex. Ch.; and the note to Godsall v. Boldero, 2 Smith, L. C, 291, 8th ed.
(o) Von Lindenau v. Desborough, 3 Car. & P. (14 E. C. L. R.) 353; Cooke v. Field, 15 Q. B. (69 E. C. L. R.) 460.
(p) Tidswell v. Ankerstein, Peake, 151; Craufurd v. Hunter, 8 T. R. 13.
(q) Read v. Royal Exchange Assurance Company, Peake, Ad. C. 70.
(r) Waimvright v. Bland, 1 M. & W. 32; Shilling v. Accidental Death Ass. Co., 26 L. J. (Ex.) 266; 2 H. & N. 42; 27 L. J. (Ex.) 17.
(s) 14 Geo. 3, c. 48, s. 2; Hodson v. Observer Life Ass. Society, 26 L. J. (Q. B.) 303; 8 E. & B. (92 E. C. L. R.) 240. See 38 & 39 Vict. c. 60 (The Friendly Societies Act, 1875), s. 25, as to insurances on the lives of children under 10, made with Friendly Societies. Sub-s. (8) of this section preserves such insurances from being invalidated by 14 Geo. 3, c. 48.