Palmetto Bank & Trust Co. v. McCown-Clark Co.

The opinion of the Court was delivered by

Mr. Justice Blease.

Each of the respondents obtained judgment against the McCown-Clark Company, one of the appellants. J. W. McCown, an officer and part owner of McCown-Clark Company, had procured an insurance policy on his life, and McCown-Clark Company was named therein as beneficiary. Upon the death of Mr. McCown, McCown-Clark Company made proof of loss and the insurance company', without protest, agreed to pay the amount due on the policy, but, on account of a contest as to^ the ownership of the money, it was allowed to pay the amount of the policy…