Foster v. Farmers' Mutual Fire Insurance

On July 17, 1929, plaintiffs suffered a fire loss amounting to substantially $3,500. For some years they had carried insurance on this and other property in the defendant Farmers’ Mutual Fire Insurance Company. Liability was denied by defendant on the ground that plaintiffs’ insurance had lapsed because of nonpayment of an assessment within 30 days after notice. The application by plaintiffs, which is made a part of the contract for insurance, contained the provision that the insured:

“Will pay his just and equitable assessments within thirty days from the date of notice, and in default of…