Yale & Bowling v. McLaurin
Mississippi Supreme Court
Appeal from the chancery court of Yazoo county. Hon. Warren Cowan, Chancellor. The appellee, Viola B. McLaurin, was engaged in mercantile business in Yazoo City, Mississippi, under the style of McLaurin & Co., and became largely indebted, and, among other creditors, to the appellants. The business was closed by attachments at the suit of various creditors, and the assets proved insufficient to pay her liabilities.
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Appeal from the chancery court of Yazoo county. Hon. Warren Cowan, Chancellor. The appellee, Viola B. McLaurin, was engaged in mercantile business in Yazoo City, Mississippi, under the style of McLaurin & Co., and became largely indebted, and, among other creditors, to the appellants. The business was closed by attachments at the suit of various creditors, and the assets proved insufficient to pay her liabilities. This bill was filed by certain of her creditors, appellants among the number, who had failed to realize upon the stock and assets of the store, and it alleges, besides the above…
1Opinion of the CourtCooper, J.
Appellee took out a policy of insurance upon the life of her husband, • for the sum of two thousand dollars, upon which she-paid the premiums. The husband has died, and appellants, creditors of appellee, seek to subject the proceeds of the policy to the payment of their debts. This right is resisted by appellee on the ground that the proceeds are exempt from liability under the provisions of § 1261 of the code, which is as follows :
“ The amount of any life insurance policy, not exceeding ten thousand dollars, upon any one life, shall enure to the party or parties named as the beneficiaries…
2Cited by2 opinions
- Rice v. SmithMississippi Supreme Court · 1894
- Coates v. WorthyMississippi Supreme Court · 1895