Lane mails a $600 check for his $50,000 home policy with Surround Insurance Co.two months late.Surround cashes the check.Two weeks later,the house is destroyed by fire.When Lane attempts to collect the $50,000 in policy proceeds,Surround asserts that the policy had lapsed and offers to refund the $600 payment.Discuss the legal rights and obligations of Lane and Surround Insurance Co.

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The Answer of Lane mails a $600 check for his $50,000 home policy with Surround Insurance Co.two months late.Surround cashes the check.Two weeks later,the house is destroyed by fire.When Lane attempts to collect the $50,000 in policy proceeds,Surround asserts that the policy had lapsed and offers to refund the $600 payment.Discuss the legal rights and obligations of Lane and Surround Insurance Co.

Lane Mails a $600 Check for His $50,000 Home Policy