Wallace v. American Life Insurance

It is vigorously contended that the insurance contract involved in this litigation has no permanent duration and that the alleged act of the defendant in terminating the contract on May 18, 1921, created no liability for damages for breach thereof. Defendant now asserts, on appeal, that the contract is without mutuality and, hence, terminable at will without liability.

That the plaintiff has the right to be indemnified by his principal for all acts done by him in good faith during the life of the agency contract is not questioned. The objection relates solely to the executory obligations of…