Larue's Assignee v. Larue
Court of Appeals of Kentucky
Case.50 — PETITION EQUITY — APPEALS FROM LARUE CIRCUIT COURT. 1. The language of the deed of assignment is broad enough to pass to the assignee two life insurance policies, taken out by the assignor, and kept up by him pursuant to a promise to his creditors, and the assignor could not subsequently assign or devise them to certain creditors to the exclusion of others.
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Case.50 — PETITION EQUITY — APPEALS FROM LARUE CIRCUIT COURT. 1. The language of the deed of assignment is broad enough to pass to the assignee two life insurance policies, taken out by the assignor, and kept up by him pursuant to a promise to his creditors, and the assignor could not subsequently assign or devise them to certain creditors to the exclusion of others. (Burrill on Assignments, secs. 95, 96, 100, 298 and 312; May on Insurance, secs. 379, 388, 389, 390 and 396; 3 Parsons on Contracts, sees 479 and 480, and notes) 2. The policies of insurance being payable to the order of the…
1Opinion of the CourtChief Justice Quigley
On the 28th day of August, 1891, L. L. LaRue made an assignment to C. F. Syrgley for the benefit of his creditors, reserving homestead and personal exemptions. The property assigned consisted of twelve or fifteen pieces of land, upon some of which there were liens, and but little personalty. It appears that his liabilities amounted to about twenty-five thousand dollars, and that his assets will realize less than five thousand dollars. At the date of the assignment he held two policies of insurance on his life for five thousand dollars each — one in the Equitable Life Insurance Society of New…
2Cases cited3 opinions
- Burton v. . FarinholtSupreme Court of North Carolina · 1882
- Hurlbut v. HurlbutNew York Supreme Court · 1888
- Day v. New England Life InsuranceSupreme Court of Pennsylvania · 1886
3Cited by3 opinions
- Townsend's Assignee v. TownsendCourt of Appeals of Kentucky · 1907
- Barbour's Administrator v. Larue's AssigneeCourt of Appeals of Kentucky · 1899
- Townsend's Assignee v. TownsendCourt of Appeals of Kentucky · 1907