Darsey v. Insurance Co. of North America

It is no defense, in an action to recover overdue installments on a note given 'for the premium of an insurance policy, to set up by way-of failure of consideration that, under an express condition in the policy and the note, liability under the policy was suspended while the note and installments thereon were overdue and unpaid, the policy providing that “the company may collect, by suit or otherwise, any past due notes or installments thereof, and a receipt from the said Atlanta office of the company *459for the payment of past dne notes or installments must be received by the assured before…