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GREAT S. LIFE INS. CO. v. EMPLOYEE FRINGE BEN., INC.

No. YY-411.

420 So.2d 407 (1982)

GREAT SOUTHERN LIFE INSURANCE COMPANY, Appellant, v. EMPLOYEE FRINGE BENEFITS, INC., and the State Exchange Bank, Appellees.

District Court of Appeal of Florida, First District.

October 14, 1982.

Attorney(s) appearing for the Case

James C. Rinaman and Gerald W. Weedon, of Marks, Gray, Conroy & Gibbs, Jacksonville, for appellant.

C. Harris Dittmar and William R. Dorsey, Jr., Bedell, Bedell, Dittmar & Zehmer, Jacksonville, for appellee Employee Fringe Benefits, Inc.

Frederick L. Koberlein, Brannon, Brown, Norris, Vocelle, Haley, Brown & Robinson, Lake City, for appellee The State Exchange Bank.

PER CURIAM.

This controversy involves the validity of an agreement for rescission of certain "key man" life insurance policies. Employee Fringe Benefits (Employee), owner and beneficiary of the rescinded policies, sued Great Southern Life Insurance Company (Great Southern) for recovery on the policies. Great Southern defended on the grounds that the policies had been rescinded by agreement between it and Employee, for a valuable consideration, that all claims under...

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