Wilcox v. Walker

1. In a suit upon a note given for the first premium on a policy of life-insurance, where the undisputed evidence shows that the insured retained in his possession the policy of insurance (with a receipt attached thereto, acknowledging the payment of the first premium), and made no effort to return the contract of insurance to the insurer until after the note had matured and the policy lapsed, a verdict for the defendant is contrary to law. The insured cannot defeat payment of the premium on a policy of insurance, issued at his instance, while he still retains the contract, and especially…