National Savings Life Insurance v. Hobbs

The opinion of the court was delivered by

Burch, J.:

In a petition for rehearing the insurance company suggests in a deferential way that the writer of the original opinion assumed to exercise that power, always to be contemplated with reverence and awe, which is capable of creating something out of nothing. The criticism is well founded. The court was under the impression that the whole endowment coupon was invented to serve the needs of the company in meeting Texas competition. This is not true, and the cash payment of $250 on payment of the seventh premium is common to the company’s…