Lanier v. Shuman

1. The plaintiff prayed for cancellation of an assignment of a life-insurance policy, and recovery of the policy itself, on the ground that the policy had been assigned to the defendant "as collateral" in a partnership between them, and that, the partnership having been terminated and settled, the defendant no longer has an insurable interest in the plaintiff's life. The defendant alleged and contended that the plaintiff was merely an employee, and that the policy was assigned in lieu of a surety bond for the purpose of assuring the defendant that all money collected and handled by the…