Prudential Insurance Co. of America v. Broughton

Opinion op the Court by

Hobson, Commissioner

Reversing.

The Prudential Insurance Company, on August 18, 1932, agreed to insure the life of Kenneth Broughton in the sum of $357 in consideration of weekly payments of 35 cents. The first payment was made on that day, and the company delivered a receipt which, among other things, read as follows:

“It is understood and agreed that there shall he no liability on the part of the Company on account of this payment unless and until it shall issue a policy, except that if death occur after the date hereof and of the application from which this receipt is…