Does this Agreement Create Reciprocal Promises Leading To Impossibility of Performances?

A Marital Settlement Agreement, (MSA), is erroneously drafted by a layman Wife (W). The clause in question, Paragraph V, reads: “A current life insurance with IOF Foresters C, Universal Life Policy in the amount of $50,000.00 naming the parties as beneficiaries shall remain in force. Husband shall continue to pay premiums on policy. Error: The policy(s) in question only names the W as beneficiary to the husband’s (H) policy and there is no companion policy where the W names H as her beneficiary. H DIES. Q.1: Does this MSA clause create ‘reciprocal obligations’ leading to Impossibility of performances, (H can name and Pay W as beneficiary,. But W can’t name and Pay H as her beneficiary) Q.2: Can the party that is damaged void the entire clause in question, & thus change beneficiarie

San Diego, CA -

Attorney Answers (3)

Donald Frederick Conviser

Donald Frederick Conviser

Divorce / Separation Lawyer - Woodland Hills, CA
Answered

1. That is unlikely. The Court can likely correct the error in the MSA (really, the Judgment, which would be the operative instrument, because the clear intention was for the wife to be the beneficiary - that was the "current" life insurance policy that existed. 2. Is the "damaged" party the wife who drew the MSA containing the agreement? Is she damaged (and if so, what is her damage?), or is this merely a hypothetical?

Please note that this answer does not constitute legal advice, and should not be relied on, as each situation is... more
Mark as helpful
Sponsored Listing
Scott Charles Maccabe

Scott Charles Maccabe

Divorce / Separation Lawyer - San Juan Capistrano, CA
Answered

Assuming there is only the one policy, then most likely no. The court should wind up requiring H to pay premiums with W as beneficiary (probably supporting the idea that W is still receiving spousal support and/or child support).

Orange County Family Law Attorney: (949) 218-0574 - This response provides general information, and is not... more
Mark as helpful
Shawn Michael Haggerty

Shawn Michael Haggerty

Family Law Attorney - Hacienda Heights, CA
Answered

Erronious is your key word. We cannot help with the law school inquiries. At least melt it down a bit.

Mark as helpful
Sponsored Listing

Questions? An attorney can help.

Ask your questions on our Q&A forum. It's free and anonymous.

Ask a Lawyer

Need to find an attorney? Browse our lawyer directory.

Find a Lawyer