The applicant sought declarations that a life insurance policy issued in 1982 should be enforced according to its original terms, including paid‑up value calculations appearing on the face of the policy.
The respondent insurer alleged that the paid‑up values in the policy were inserted in error and sought rectification to reduce them by a factor of five.
The record contained conflicting affidavit evidence and competing expert opinions regarding the intended structure of the policy and the calculation of paid‑up values.
The court held that the disputes involved material factual conflicts, credibility assessments, and complex issues relating to rectification and limitation periods.
As a result, the matter could not properly be resolved on an application record and required a trial.
