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RUWITCH v. WILLIAM PENN LIFE ASSUR. CO.

No. 91-2943.

966 F.2d 1234 (1992)

Flora Ann RUWITCH, Trustee, Irrevocable Trust Agreement of Wallace R. Ruwitch, Appellee, v. WILLIAM PENN LIFE ASSURANCE COMPANY OF AMERICA, Appellant. WILLIAM PENN LIFE ASSURANCE COMPANY OF AMERICA, Appellant, v. Flora Ann RUWITCH, Trustee, Irrevocable Insurance Trust Agreement of Wallace R. Ruwitch, Appellee.

United States Court of Appeals, Eighth Circuit.

Decided June 1, 1992.

Rehearing and Rehearing Denied July 10, 1992.

Attorney(s) appearing for the Case

Jordan Cherrick, St. Louis, Mo., argued (Steven Sanders and Thomas Dvorak, appeared on the brief), for appellant.

Robert Allen, St. Louis, Mo., argued (Richard Ahrens and Ronald Norwood, appeared on the brief), for appellee.

Before WOLLMAN and MAGILL, Circuit Judges, and LONGSTAFF, District Judge.

Rehearing and Rehearing En Banc Denied July 10, 1992.

WOLLMAN, Circuit Judge.

William Penn Life Assurance Company (Penn Life) appeals from a judgment against it for breach of its contract to insure the life of Wallace R. Ruwitch. We reverse and remand with directions to enter judgment for Penn Life.

I.

In early 1989, Wallace R. Ruwitch decided to purchase a $2 million policy of insurance on his life in order to secure loans for his purchase...

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