Faris

The action was brought to recover the sum of three thousand dollars, the amount of an insurance policy issued on the life of said John B. Faris. There is no controversy about the facts, most of them being covered by an agreed statement and the others are contained in the deposition of one witness. On July 27, 1916, Faris made application to the company for insurance on his life for the sum of three thousand dollars. Said application contained, among others, the following stipulation: “(3) That if for the first premium of the policy hereby applied for, or for any part thereof, any note shall be given to said company or to any agent thereof, then, if and when said note is not paid at its maturity, the insurance granted by such policy shall ipso facto cease and determine, notwithstanding any provision in the policy to the contrary, and that such part of said premium as may have been paid in cash shall be retained by the company as earned premium for the term ending with the maturity of such note.” On July 28th following, the first premium, amounting to $84.09, was paid in the following manner: $28.03 in cash and Faris’ promissory note for the balance in the following form:

On August…