Sears v. Citizens Exchange Bank

Birdsong, Judge.

Opening Default Judgment. Prior to his death, L. F. Sears purchased a $70,000 certificate from Citizens Exchange Bank naming himself and his wife Verdie (appellant) as payees. For reasons of estate planning, Mr. Sears, just before his death, had Mrs. Sears’ name removed from the certificate. After his death, his sister Mrs. Kirkland (appellee) was named administratrix of his estate and took possession of the certificate as belonging to the estate. Mrs. Sears sought a declaratory judgment to ascertain who was the rightful owner of the certificate, naming the bank and Mrs.…