Albrent v. Spencer

The case was previously before this court in Albrent v. Spencer (1957), 275 Wis. 127, 81 N. W. (2d) 555, on appeal by the plaintiff from an order sustaining defendants’ demurrer to the complaint.

Briefly, the facts as alleged in the complaint are: Prior to March 29, 1954, E. A. Albrent and William L. Spencer each owned substantially one half of the stock in Albrent Freight & Storage Corporation (hereinafter called the “company”). Albrent was indebted to Spencer in the amount of about $140,000. Albrent had purchased policies of insurance on his life aggregating the face value of $110,000, of…