Equitable Life Assurance Society of U. S. v. Saurman

Opinion by

James, J.,

Early in July 1932, Elizabeth W. Saurman wrote a letter to the Equitable Life Assurance Society of the United States seeking information as to the cost of an annuity. On July 5, 1932 two agents of the company, Ralph C. Carnes and John P. Cranston, called upon, her, at which time Elizabeth Saurman made an application for a 3%-unit contract, which application contained no information as to the monthly payment to be paid. Shortly afterwards a notation was made on the application to issue an additional contract for 1% units. Twd contracts of the company were issued for 3%…