BLACK, J.
Defendant-appellee's counter-statement exhibits with clarity the question brought up by this appeal:
"Where both the application for a policy of life insurance and the `conditional receipt' expressly provide that no insurance shall take effect unless the full first premium for the policy is paid, does the payment of $16.68 (the first monthly premium being $89.60) give rise to a cause of action for the proceeds (following death of the applicant) on...
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