Sutton v. Wright

The opinion of the court was delivered by

Burch, J.:

The action was one to recover on two promissory notes given by the defendant for the premium on a new life insurance policy issued in place of an old one which was surrendered. The plaintiff, a field manager under a general agent of the insurance company, negotiated the exchange of policies. The notes were made payable to the general agent, but the plaintiff took them up at maturity, and owned them when suit was brought. The defense was failure of consideration because the new policy had not been delivered. The plaintiff recovered, and the…