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Gulf Refining Co. v. Atlantic Mut. Ins. Co., 279 U.S. 708 (1929)
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General SummaryThis case is from a collection containing the full text of over 16,000 Supreme Court cases from 1793 to the present. The body of Supreme Court decisions are, effectively, the final interpretation of the Constitution. Only an amendment to the Constitution can permanently overturn an interpretation and this has happened only four times in American history.
Gulf Refining Co. v. Atlantic Mut. Ins. Co., 279 U.S. 708 (1929)
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Gulf Refining Company v. Atlantic Mutual Insurance Company No. 506 Argued April 17, 1929 Decided May 27, 1929 279 U.S. 708
CERTIORARI TO THE CIRCUIT COURT OF APPEALS
FOR THE SECOND CIRCUIT
1. In adjusting a general average loss upon cargo insurance under a valued policy, the insured is co-insurer to the extent that the sound value of the cargo at the time of contribution exceeds the agreed value in the policy, and recovers that proportion of his loss which the agreed value bears to such sound value. P. 709.
2. The co-insurance principle, long and consistently applied in the case of particular average losses under both open and valued policies, gives a reasonable and equitable effect to the stipulation fixing value, consonant with principles generally applicable to marine insurance. It may be applied to general average contributions with like effect and with added consistency and harmony in the law. P. 712.
3. The application of the agreed value to the adjustment of the insurance loss does not depend on estoppel. P. 712.
27 F.2d 678 affirmed.
Certiorari, 278 U.S. 595, to a decree of the circuit court of appeals (see 1927 Am.Mar.Cas. 1669), which reversed a decree of the district court for the present petitioner in a suit in admiralty on a policy of insurance.
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Chicago:
U.S. Supreme Court, "Syllabus," Gulf Refining Co. v. Atlantic Mut. Ins. Co., 279 U.S. 708 (1929) in 279 U.S. 708 279 U.S. 709. Original Sources, accessed July 2, 2025, http://www.originalsources.com/Document.aspx?DocID=GKI7H5KJRBMCTWL.
MLA:
U.S. Supreme Court. "Syllabus." Gulf Refining Co. v. Atlantic Mut. Ins. Co., 279 U.S. 708 (1929), in 279 U.S. 708, page 279 U.S. 709. Original Sources. 2 Jul. 2025. http://www.originalsources.com/Document.aspx?DocID=GKI7H5KJRBMCTWL.
Harvard:
U.S. Supreme Court, 'Syllabus' in Gulf Refining Co. v. Atlantic Mut. Ins. Co., 279 U.S. 708 (1929). cited in 1929, 279 U.S. 708, pp.279 U.S. 709. Original Sources, retrieved 2 July 2025, from http://www.originalsources.com/Document.aspx?DocID=GKI7H5KJRBMCTWL.
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