Equitable Life Assurance Society of the United States v. New Horizons, Inc.

The opinion of the court was delivered by

Wachenteld, J.

This is an action for rescission and cancellation of a policy of insurance issued on the life of one Stephen Yafchak by the plaintiff, the Equitable Life Assurance Society of the United States. Defendant, New Horizons, Ine., is the assignee of the policy and counterclaimed to recover its full amount. The material facts are undisputed and in the trial court both parties moved for summary judgment. Judgment was granted in plaintiff’s favor, and the defendant appealed. We granted certification of the appeal to the Appellate Division on our…