Johnson v. Bacon
Mississippi Supreme Court
From the chancery court of I^eHore county. Hon. Percy Bell, Chancellor. Johnson, appellant, was complainant in the court below; Mrs. Bacon and others, appellees, were defendants there. From a decree on a demurrer to the bill in favor of, but not satisfactory to, complainant, he appealed to the supreme court.
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From the chancery court of I^eHore county. Hon. Percy Bell, Chancellor. Johnson, appellant, was complainant in the court below; Mrs. Bacon and others, appellees, were defendants there. From a decree on a demurrer to the bill in favor of, but not satisfactory to, complainant, he appealed to the supreme court. The appellant, Johnson, began this suit in chancery against appellees, Mrs. Bacon and her children and two life insurance companies, charging that W. O. Bacon, the husband of appelleeMrs. Bacon, died, leaving insui’ance in force to the amount of $25,000; that of this amount $18,500 was…
1Opinion of the CourtMates, J.
Where a life insurance policy is taken out for the benefit of named beneficiaries, it vests in the beneficiaries the absolute ownei’ship, and it cannot he assigned; transferred, deposited as collateral security, or made in any way liable for the debts of the insured without the consent of the beneficiary expressly given. If there be any attempt to .assign, transfer, or in any way dispose of the proceeds of the policy by the insured, or any attempt to make same liable for his debts, and it is done without the coxxsexit and authority of the beneficiary expressly given, it is as void as if the…
2Cases cited6 opinions
- Central Bank of Washington v. HumeSupreme Court of the United States · 1888
- Pence v. MakepeaceIndiana Supreme Court · 1879
- Stigler's Ex'x v. StiglerSupreme Court of Virginia · 1883
- Jackson Bank v. WilliamsMississippi Supreme Court · 1899
- Jones v. PattyMississippi Supreme Court · 1895
1 more not listed; retrieve them via the Exa API.
3Cited by5 opinions
- Clay County Bank v. WilsonWest Virginia Supreme Court · 1930
- Mutual Benefit Life Insurance v. WilloughbyMississippi Supreme Court · 1910
- First-Columbus Nat. Bank v. D. S. Pate Lumber Co.Mississippi Supreme Court · 1932
- Williams v. Penn Mut. Life Ins.Mississippi Supreme Court · 1931
- United States Fidelity & Guaranty Co. v. HoltMississippi Supreme Court · 1927