Summary Judgment 011: life insurance claim in state court:
Misrepresentation
Fact dispute or at least difference in inferences to be drawn from facts precludes summary judgment for defendant.
Defendant All American has not proven elements of policy defense based on misrepresentation such that rescission would be proper.
Even if statements at issue were known to be incorrect, required intent to deceive has not been conclusively shown.
Evidence in case is such that inference can be drawn defendant knew or should have known of defect; this inference precludes summary judgment for defendant.
Under Oklahoma law, differing inferences from even uncontroverted facts will preclude summary judgment.
Policy provides no affirmative duty to update application information.
Defendant estopped to deny coverage by reason of having failed to timely refund premium.
Defendant forfeited any right to rescind policy by failing to tender timely refund of policy premium as required under Oklahoma law.
Acquisition of knowledge forming basis of rescission triggers duty to restore value.
Duty of reasonable promptness.