Keene Investment Corp. v. Martin

The question before us is whether the defendant, surviving co-maker of the note involved, is discharged from liability because the plaintiff did not notify her that the insurance policy on the life of the deceased co-maker had terminated.

The parties have agreed upon the following material facts:

“1. At the time the loan . . . was made, plaintiff represented to defendants . . . that credit life insurance would be procured by the plaintiff on defendant Martin’s life and that in the event of his death the proceeds of such insurance would pay in full any balance then due on the loan.

“2. After the…