Palmer v. Mutual Life Insurance

This is a demurrer by the plaintiff to a defense in the answer alleging new matter. The action is brought for the redemption, restoration and reinstatement of a paid-up policy of insurance upon the life of the plaintiff in the defendant company, upon payment to the latter by the former of such amount as the court should find due and owing to the defendant company, by reason of its loan to the plaintiff upon his pledge of said policy. The facts, as disclosed by the pleadings, are as follows: The plaintiff, on March 24, 1899, was the owner of a life insurance policy for $5,000 in the defendant…