Excerpt: ...his mistake was simply his own in not reading the release. A policy may be rescinded whenever fraud has been practiced by either party. Thus, should a greater premium be demanded than that stated in the contract this would be a good reason for rescinding on the part of the part of the insured. Likewise, if he was induced to take out the insurance by the fraud of the company or its agent, unless he has lost his right to rescind through inaction or negligence. Likewise, the company may rescind for fraud practiced ...
Excerpt: ...his mistake was simply his own in not reading the release. A policy may be rescinded whenever fraud has been practiced by either party. Thus, should a greater premium be demanded than that stated in the contract this would be a good reason for rescinding on the part of the part of the insured. Likewise, if he was induced to take out the insurance by the fraud of the company or its agent, unless he has lost his right to rescind through inaction or negligence. Likewise, the company may rescind for fraud practiced by the insured by misrepresentation or other fraudulent acts concerning his age, health, etc. Concealment of facts may and often does operate as a fraud on the company. Says Justice McClain: "If the applicant has answered the questions asked in the application he is justified in assuming that no other information is desired. On the other hand if he wholly fails to answer questions the company waives information as to matters thus asked for by accepting the application 175 without objection. If, however, the applicant purports to answer a question by giving only an incomplete answer, concealing facts which should properly be stated in response to the question, and these concealed facts are material, the policy is voidable." If a material change for the worse in the health of the applicant takes place after the application and medical examination, it is the duty of the applicant to disclose it. The failure to disclose facts of which the applicant is ignorant, or which are immaterial to the risk, is not ground for avoiding the policy. When a policy is surrendered or canceled by the contract or by statute, the insured may be entitled to the surrender value of his policy. The amount is to be determined by the period for which the policy has to run, the amount of the annual premium, the age of the insured, and the probability of the continuance of his life stated in the usual life tables. The value of an immatured paid-up policy is the unearned...
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New in New jacket. Antique look with Golden Leaf Printing and embossing with round Spine completely handmade binding(extra customization on request like Color Leather, Colored book, special gold leaf printing etc. ) Reprinted in 2018 with the help of original edition published long back . This book is printed in black & white, sewing binding for longer life, Printed on high quality Paper, re-sized as per Current standards, professionally processed without changing its contents. As these are old books, we processed each page manually and make them readable but in some cases some pages which are blur or missing or black spots. If it is multi volume set, then it is only single volume. We expect that you will understand our compulsion in these books. We found this book important for the readers who want to know more about our old treasure in old look so we brought it back to the shelves. Hope you will like it and give your comments and suggestions. Lang: -eng, Print on Demand. EXTRA 10 DAYS APART FROM THE NORMAL SHIPPING PERIOD WILL BE REQUIRED. (Normal Hardbound Edition is also available on request. )
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