Thompson v. Insurance Company - 104 U.S. 252 (1881)
U.S. Supreme Court
Thompson v. Insurance Company, 104 U.S. 252 (1881)
Thompson v. Insurance Company
104 U.S. 252
ERROR TO THE CIRCUIT COURT OF THE UNITED
STATES FOR THE SOUTHERN DISTRICT OF ALABAMA
1. The payment of the annual premium upon a policy of life insurance is a condition subsequent the nonperformance of which may or may not, according to circumstances, work a forfeiture of the policy.
2. Where the policy provides that it shall be forfeited upon the failure of the assured to pay the annual premium ad diem or to pay at maturity his promissory note therefor, the acceptance by the company of the note, although a waiver of such payment of the premium, brings into operation so much of the condition as relates to the note.