The life of was insured by a twenty year endowment policy which provided that at the end of the term he could exercise one of three options including that of surrender of the policy on receipt of a sum to ascertained in a specified manner.
About ten months before the policy expired he wrote to the company asking for the amount payable on surrender which was promptly furnished, and, more than a year later, he brought action for a larger cash payment and in the alternative for rescission of the contract insurance and return of the premium paid with interest alleging that when he applied for the insurance was informed the agent of the company that the cash value of the policies surrendered would be the larger amount claimed.
The trial judge directed rescission and return of the premiums as prayed. This judgment was reversed by the Court of Appeal.
Held, affirming the judgment of the Court of Appeal Ont. L.R. that as did not swear nor the evidence he adduced establish that he was induced to enter into the contract by the representations of the agent as to the sum payable oq surrender, and it might fairly inferred that had been given the true figures he would still have taken the policy, his action must fail. APPEAL from a decision of the Court of Appeal for Ontario(1) reversing the judgment at the trial in favour of the plaintiff.
The material facts are stated in the above headnote.
Charles Fitzpatrick C.J. and Davies, Idington, Duff, Anglin and Brodeur JJ.