Kinsella v. Merchants National Bank & Trust Co.

Order unanimously reversed, with costs and motion denied. Memorandum: The plaintiff, as administrator of his father’s estate, claimed that his father owed the defendant money and that pursuant to the loan agreement between his father and the defendant, the defendant had or should have had life insurance in effect on his father’s life, and that upon his father’s death, the loan was or should have been discharged by the insurance proceeds. The defendant, claiming that there was a novation before his father’s death in which the plaintiff, individually, was substituted as obligor in place of his…