WOODALL
v.
COMMISSIONER OF INTERNAL REVENUE

U.S. | 1940-01-29
No. 583
309 U.S. 655 Supreme Court of the United States (1940) Positive Treatment
Cited by 2 cases
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  • Darr v. Mut. Life Ins. Co. of N.Y., 169 F.2d 262 (2d Cir. 1948)
    …s true that the contract of insurance may become effective without delivery of the policy to the applicant, provided payment of the initial premium has been made in advance, Ruhlin v. New York Life Ins. Co., 3 Cir., 106 F. 2d 921, certiorari denied, 309 U.S. 655, 60 S.Ct. 469, 84 L.Ed. 1005, so that in this respect the policy may be ■only “evidence” of the obligation. Nevertheless, after three years of premiums are paid the policy may be used as security for a loan from the company or be surrendered for it…

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