New York Life Insurance v. Newman

Plaintiff, New York Life Insurance Company, filed a bill in chancery to cancel a life insurance policy and to restrain an action at law commenced by defendant.

The record shows that on July 15, 1938, a policy of insurance was issued on the life of Meyer Newman in the sum of $3,000 payable to Hattie E. Newman, his wife and defendant herein; that on July 15, 1940,- the policy lapsed by reason of default in payment of premium; and that on August 20, 1940, the insured made written application to plaintiff insurance company for reinstatement of the policy. In the application for reinstatement, the…