Pendas v. Equitable Life Assurance Society of United States

On April 20th, 1932, the Equitable Life Assurance Society of the United States issued a life annuity policy to Enrique Pendas and agreed to pay at its home office in the City of New York to the annuitant under conditions stated in the policy monthly payments of $1,053.00 “beginning on the anniversary of the registered date of the contract upon which annuitant’s age and nearest birthday is 70 years, but at any time prior to the commencement of such annuity payments on said date that the annuitant may, provided this contract is then in force, elect in lieu thereof either:

“(1) A Life Annuity…