U.S. Supreme Court MOBLEY v. NEW YORK LIFE INS. CO., 295 U.S. 632 (1935)

[Page 295 U.S. 632, 639]

gives no support to the claim that it disregarded or intended to break its promises. We conclude that, as found by the lower courts-rightly declining to follow the decision of the Circuit Court of Appeals for the Sixth Circuit in Federal Life Ins. Co. v. Rascoe, supra, 12 F. (2d) 693, 696-the company did not repudiate the policies. In view of that fact, we need not and therefore do not decide whether the doctrine of anticipatory breach is applicable to the class of cases to which this one belongs. Dingley v. Oler, ubi supra.

Affirmed. Footnotes

Footnote 1 The record does not disclose how the amount, $33,980, was reached. Plaintiff's expectation of life was taken at 34 1/2 years or 414 months. Payments of $50 per month would be $20,700. If the face of the policy, $5, 000, be added, the total is $25,700. But it seems that payments of $70 instead of $50 per month were taken. Then the installments without discount would be $70 X 414 or $28,980, plus $5,000 equals $33,980.

Footnote 2 The declaration alleges an expectation of life of 40 years. Installments of $20 per month amount to $9,600. Adding $2,000, the face amount of the policy, produces the amount claimed.