Great Southwestern Life Ins. Co. v. Gibson

Action upon a policy of life insurance issued November 15, 1933, for $1,000 upon the life of Clyde W. Gibson. The premium upon said policy was paid by. insured’s note for $39.71, due in install ments as follows: $1.71 on January 1, 1934, and $10 on the. first days of February, March, and April, 1934. The note provides: “If default is made in the payment of any installment when due, then all the remaining installments shall become due, and payable, at the option of the holder hereof without notice or demand, said notice and demand being hereby expressly waived.” The policy contained the usual…