Slocum v. New York Life Insurance
Supreme Court of the United States
CERTIORARI TO THE CIRCUIT COURT OP APPEALS POR THE THIRD CIRCUIT. The facts,- which involve the construction of a life insurance policy and whether it had expired by reason of non-payment of premium and also t'he power of the Circuit Court.of Appeals under the Seventh Amendment to reverse a judgment entered on a verdict of a jury and direct judgment for the other party, in conformity with a state practice, are stated in the opinion.
1Opinion of the CourtJustice Van Devanter
This was an action in the Circuit Court for the Western District of Pennsylvania on a policy,of insurance on the life of Alexander W. Slocum, The policy was for $20,000, was an ordinary life contract on the 20-year accumulation plan, was payable to the executors, administrators or assigns of the insured, became effective November 27, 1899, and called for the payment of a premium of $579.60 on each anniversary of that date. It made provision for interest-bearing loans by the company to the insured on terms stated, and also. contained the following stipulations:
“This policy is automatically…
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