The Doctrine of Life-annuities and Assurances, Analytically Investigated and Explained

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J. Richardson, 1810 - Annuities - 621 pages

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Page 489 - Such was the decision of the Court of King's Bench in the case of The Tobacco-pipe Makers
Page 457 - But this is too gentle a censure. There is reason to believe that worse principles have contributed to their rise and support. The present members, consisting chiefly of persons in the more advanced ages, who have been admitted on the easiest terms, believe that the schemes they are supporting will last their time, and that they will be gainers. And as to the injury that may be done to their successors, or to younger members, it is at a distance, and they care little about it.
Page 499 - ... artifice which is easily seen through, but which opens such a door to fraud and imposition that it cannot be too severely reprobated. And, however much it may be sanctioned by the directors in their public capacity, we are all aware what their emotions would be if they discovered any of their tradesmen tampering with their own servants in this opprobrious manner, since they must well know who would eventually pay for it.
Page 490 - After a lapse, however, of 87 years since any authenticated proceeding has been had upon this branch of the act, and when other ways are still open to the party now applying to put this act in force against offenders, the Court, in the exercise of a sound discretion, under all the circumstances of the case, will forbear to interfere in this extraordinary manner. But, at the same time, we wish it to be understood, that it is not because we think that the facts brought before us are not within the...
Page 489 - ... the common grievance, prejudice and inconvenience of his Majesty's subjects, or great numbers of them, in their trade, commerce, or other lawful affairs...
Page 466 - ... of the life in possession. Or, according to any other plan which may be proposed. Thus, let the scheme of a society, for granting annuities to widows, be such that, if a member lives one year after admission, his widow shall be entitled to a life annuity of 20 : if seven years, to 10 more (or 30 in the whole) : if fifteen years, to 10 more (or 40 in the whole).
Page 461 - But, if they saw * an easy method of employing the money they could * spare, in such a manner as would procure them a * considerable income in return for it at some future * period of their lives, without any such hazard of ' probable they would frequently embrace it : and thus * a diminution of the poor's rate on the estates of the * rich, an increase of present industry and sobriety in
Page 492 - And they recommend it as a matter of prudence to the parties concerned, that they should forbear to carry into execution this mischievous project, or any other speculative project of the like nature, founded on joint stock and transferable shares ; and we hope that this intimation will prevent others from engaging in the like mischievous and illegal projects.
Page 27 - Find the present worth of each year- by itself, discounting from the time it becomes due. and the sum of all these will be the present worth required •. EXAMPLES.
Page 475 - O 60 3 1 6 12 6 o 65 3 6 6 15 6 o raised by the accumulation of the reserve found necessary for the security of this guarantee, is to be improved for the benefit of all the members, according to their respective interests : and no division of this capital is to be made, otherwise than in the payment of claims on death, without the consent of two successive General Courts of the members of the corporation. And the Society is now enabled to effect assurances for any number of years, or on the joint...

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