In re the Estate of Bickford

The decedent Howard L. Bickford was the agent for the Mutual Life Insurance Company of New York. In 1939 he began borrowing various sums of money from the respondent Mary Faulds until July 1,1940, when he owed and gave her his promissory note f.or $9,000 payable seventy-five dollars per month. In the meantime and in May, 1940, he turned over to her a life insurance policy in the Mutual Life Insurance Company of New York on his own life for $5,000. It was then payable to his parents. Shortly thereafter he received it back from her, had the beneficiary changed to his own executors,…