Yarborough v. Peoples National Bank

The opinion of the Court was delivered by

Mr. Justice; Cothran.

There appears to be no controversy over the facts of this case, which are as follows :

In 1907 W. A. Yarborough took out a policy of insurance in the Southeastern Pife Insurance Company for $1,000.00, upon his life, payable in the event of his death to his wife, the plaintiff, Susie B. Yarborough, if living, otherwise to his 'personal representative; the policy was upon what is termed the tontine plan, and provided that, if the insured survived the tontine period of twenty years, he should be entitled to elect one of several options…