In re Boardman
District Court, D. Massachusetts
In Bankruptcy. On petition by bankrupt for the delivery to Mm by tbe trustee of a life insurance policy. The following is the opinion of LEWIS (I. FARMER, Referee: On December 24, 1889, the Equitable Life Assurance Society of the United States issued to the bankrupt, in Cleveland, Ohio, its “free tontine” policy, No, 452,107, whereby, in consideration of an annual premium of one hundred twenty-one and rs/ioo dollars ($121.75), it promised to pay eiüier to him, his executors,…
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In Bankruptcy. On petition by bankrupt for the delivery to Mm by tbe trustee of a life insurance policy. The following is the opinion of LEWIS (I. FARMER, Referee: On December 24, 1889, the Equitable Life Assurance Society of the United States issued to the bankrupt, in Cleveland, Ohio, its “free tontine” policy, No, 452,107, whereby, in consideration of an annual premium of one hundred twenty-one and rs/ioo dollars ($121.75), it promised to pay eiüier to him, his executors, administrators, or assigns, on the 23d day of December, 1909, or, should he die before, then to his mother, Flavilla T.…
1Opinion of the Court
LOWELL, District Judge.
In tbis case I agree with the referee. Tbe policy has a cash surrender value within the intent of the statute. The fact that this, value is not stated in the policy is imma-' terial. . If in the ordinary course of business tbe bankrupt can obtain cash from the company by a surrender of the policy, his creditors are entitled to the cash. Again, I think the interest of the bankrupt’s trustee is not defeated by the claim of Mrs. Boardman, though I am not required to determine at the present time precisely what Mrs. Boardman’s rights are. In addition to the cases cited by…
2Cases cited1 opinion
- In re DiackDistrict Court, S.D. New York · 1900
3Cited by8 opinions
- In re HerrDistrict Court, M.D. Pennsylvania · 1910
- In re SlingluffDistrict Court, D. Maryland · 1900
- Grems v. TraverNew York Supreme Court · 1914
- In re SchaeferDistrict Court, N.D. Ohio · 1910
- In re SimmonsDistrict Court, D. Massachusetts · 1918
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