Anna B. Stewart, Appellant v. the Union Mutual Life Insurance Company, Respondent

Summary

The New York Court of Appeals reversed the lower court’s dismissal and held that the insurer’s acceptance of a promissory note and its subsequent conduct waived the policy’s condition requiring cash payment of the first premium, so the policy was not forfeited at the insured’s death. The court found that the manager acted within authority that was imputed to the corporation, and that such waiver may be inferred from the insurer’s conduct.