United States First Circuit
Pruco Life Insurance Company v. Wilmington Trust Company, 12-2227
Summary judgment for plaintiff-insurance company on its claim for a judgment of mutual rescission of a life insurance policy, owned by defendant-trust, on the life of defendant-trustee, is affirmed, where: 1) the district court correctly applied Rhode Island rescission law; and 2) once defendants took the steps to effect a mutual rescission, plaintiff's independent right to rescind ceased to be legally relevant; and 3) the district court did not err in finding defendant's bad faith arguments irrelevant to the rescission analysis.
Appellate Information
- Decided 06/28/2013
- Published 06/28/2013
Judges
- LYNCH
Court
- United States First Circuit