Page:Federal Reporter, 1st Series, Volume 7.djvu/313

 COFFEI V. UNIVEBBAL LIFi! INB. 00. SOI �COFFET V. UnIVBESAL I4IPB Ins. Co. �{Otreuit Court, B. D. Wiiteondn. Mety 20, 1881.) �1. Life Insukancb Polict— FoHrBiTURB— Remkf. �The plaintifl waa the holder of a policy issued by the defendant Company, which provided that in case of default in any payment of premiums after two full years' payment had been made, the polioy miglit be exclianged for a paid-up endowment policy for a certain amount, subject to the condition that the policy, duly receipted, "shall have been transmitted to and received by the company within 60 days after such default." The premium due August 23, 1877, waa unpaid, and no ofiEer to surrender the original policy for a paid-up policy was made by the plaintiS lintil March, 1879. Eeld: �(1) That f allure to transmit the policy to the company 'Within the 60 days after default, in the tt'bsence of. circumstahcos adequate to excuse non-compliance with this condition, iavolred the losa of all right of the plaintifE to the paid-up poHcv. " " ' ' ' �(2) That the company, iri thie lightof all the facts atid circum- stances of the case— havitfg' refua'ed, by its'ageilt, to acciopt the pre- mium on the day it waa due, because of proceediags pendin^ against it for dissollltien and the appointment of a receiter, aiid not hav» ing thereafter giveii the plalntiftaiiiy notice 6f fth 6i>i)ortunity to' pay the preinium elsewhbre,' and' hWviiig," iu reply'tb' hie iettets of inqiiiry.'deniedhis right to an^'infortuatioti,'and haVirig led himto erippose that his policy had wliolly-iapsed, aild that>it could do nothi Ing towards reviving the sam'euntilclear ot the court 'ppooeedings,. �' and then only as an act of 'gra)de dr favor-*%er* iftitopt>e<i to asœit that the plaintifl had torfeitfed his ri^t to the paid-up poilicy by ifailure to transmit the originfti policy within 60 days after 'Uoll-pay* ment of the premium on Augiist'23, 1877. ' �In Equity., �Dixon e Noyes, for complainant. �Sleeper e Whiton, for defendant. �Dyer, D. J. This is a bill to cQinpel the defendant com- pany, whicb is a corporation of the state of Ne'vr York, to issue to the complainant a paid-up polioy of life insurance of the amount of $600; and the controversy between the parties arises upon the following state of facts : �On the fwenty-third day of May, 1868, the complainant prooured from the defendant company a policy of insurance on his own life, for the sum of $1,000, payable to Honora Cofley on the twenty-third day of May, 1883, or in case of complainant's death before that day, then within 30 days «fter notice and proof of death. The policy required the premiums to ba ��� �