Cockrill v. Southwestern Life Ins. Co.

BAUGH, Justice.

This case arose as follows: E. E. Cock-rill in 1924 held a paid-up life insurance policy in appellee company for $10,010, m which Goldie Cockrill, his wife, was named beneficiary. In January, 1924, he executed his note to said company for borrowed money in the sum of $3,930 and assigned said policy to the Insurance Company as security therefor. On March 4, 1927, he executed to the Flatonia State Bank his note for $5,500, due in three years, and made an additional assignment of said policy to the bank as security, subject to the one made to the Insurance Company. He made no…