Aldrich v. Travelers Insurance

This is a bill in equity for rescission because of alleged mutual mistake and unconscionableness of an annuity contract entered into between the plaintiff’s testatrix and the defendant, dated April 3, 1940, whereby for consideration of a single premium of $5,000 then paid by the testatrix, the defendant promised to pay to the testatrix the sum of $31.70 monthly during her life.

In addition to the consideration of the paid premium, the contract on its face purports to have been issued “in consideration of” an application signed by the testatrix and made part of the contract. In the application…