Citations
- 82 S.W.2d 760
Full opinion text
WALKER, Chief Justice.
On the 22d day of February, 1928, Southern Union Life Insurance Company issued to Shelby V. Majors a life insurance policy in the sum of $1,000; subsequently appellee, Mrs. Callie Majors, the wife of the insured, was named beneficiary, and appellant, Great Southern Life Insurance Company, assumed all liabilities under this policy. Shelby V. Majors paid in cash the first premium, and the second premium maturing February 22, 1929. When the third premium matured, on the 22d day of February, 1930, he did not -pay that premium in cash but executed therefor the following note: ...
“$24.52 No. 44434 February 22, 1930.
“On the 22nd day of October, 1930, without grace, I promise to pay to the order of the Southern Union Life Insurance Company at its office in Fort Worth, Texas, the sum of Twenty-four and 52/100 Dollars with interest at the rate of six per cent, per annum from date until paid, for valúe received.
“This note is tendered by the maker upon the understanding that it shall not be binding until accepted by the President or Secretary of said company.
“That although the annual premium ,