Equitable Life Assurance Society v. Klein

Opinion by

Mr. Justice Simpson,

The Equitable Life Assurance Society of the United States, plaintiff herein, insured the life of Hyman Klein, one of the defendants, in favor of his minor children, whose guardian ad litem is the other defendant. In plaintiff’s bill in equity, it is averred that “the said policy lapsed by reason of the nonpayment of the premium due January 21, 1931,” a fact expressly admitted in the answer, as is also the further averment that “On February 27, 1931, the said policy was restored by the plaintiff.” The bill seeks a decree that “The restoration of the policy be…