Ray v. Commonwealth Life Insurance

Opinion of the Court by

Judge Quin

Reversing.'

On May 15, 1915, the appellee issued to Cleveland Yandell Ray its policy in the sum of $2,000.00, in which his wife, Susie Yiola Ray, was named as beneficiary. The policy covered a term of five years, the annual premium being $21.64. It is stated in the policy that the first premium was paid: As a matter of fact the company accepted from the insured his note dated June 10, 1915, payable July 15,1915, in the sum of $21.64, in payment of this premium. With the exception of $5.00 paid November 3, 1915, no part of this note was paid, nor was any part of…