Brown v. Equitable Life Insurance

The sole issue on appeal is whether the conditional receipt issued by the respondent insurance company after payment of the first premium of $54.88 by the decedent created a contract of temporary insurance, effective as of the date of receipt which could be terminated only by notification to the decedent that his application for and temporary insurance was rejected because of his uninsurability, or whether the conditional receipt created a contract of insurance to become effective as of the date of receipt only after the respondent insurance company made a good faith determination that the…