Key v. National Life Insurance
Supreme Court of Iowa
Appeal from Pottawattamie District Court. — Hon. A. B. Thornell, Judge. Plaintiff claims that one W. B. Proctor, an agent of defendant company, induced her to take out a ten thousand dollar policy of insurance in said company upon her life, on his representation and inducement that the company would make her a loan upon her real estate, taking, in addition to a mortgage thereon, the policy as security.
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Appeal from Pottawattamie District Court. — Hon. A. B. Thornell, Judge. Plaintiff claims that one W. B. Proctor, an agent of defendant company, induced her to take out a ten thousand dollar policy of insurance in said company upon her life, on his representation and inducement that the company would make her a loan upon her real estate, taking, in addition to a mortgage thereon, the policy as security. Plaintiff says that, being desirous of securing a large loan of money, such as'was promised, she consented and agreed to take out a policy, upon the express understanding that it could and was…
1Opinion of the CourtWaterman, J.
The facts as to the agreement with Proctor are undisputed, for they rest entirely upon the testimony of plaintiff. There was no other witness who testified on this branch of the case. Proctor was defendant’s agent. He induced plaintiff to take out the policy by a promise that defendant would make her a loan on her property, taking the policy as part security therefor. Plaintiff did not wish the insurance, but she was very desirous of securing a loan, and, because of the inducement offered in this respect, agreed to take out the policy. The understanding between plaintiff and Proctor was that…
2Cases cited1 opinion
- Harnickell v. . New York Life Ins. Co.New York Court of Appeals · 1888
3Cited by6 opinions
- Wood v. Brotherhood of American YeomenSupreme Court of Iowa · 1910
- First National Bank of Corning v. ReidSupreme Court of Iowa · 1904
- Calvin Phillips & Co. v. FishbackWashington Supreme Court · 1915
- Wilson v. Anchor Fire InsuranceSupreme Court of Iowa · 1909
- Lewis v. New York Life Ins.Court of Appeals for the Third Circuit · 1910
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