Matthews v. . Sheehan
New York Court of Appeals
Appeal from judgment of the General Term of the Supreme Court in the third judicial department affirming a judgment in favor of plaintiff entered upon a verdict.
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Appeal from judgment of the General Term of the Supreme Court in the third judicial department affirming a judgment in favor of plaintiff entered upon a verdict. This action was brought by plaintiff, as administratrix with the will annexed, of Dennis O’Keefe, deceased, to recover moneys alleged to have been collected by defendant upon a policy of insurance issued upon the life of said O’Keefe, and assigned by him to defendant as security for advances made by the latter. ■ The facts appear sufficiently in the opinion. The policy and assignment having been, delivered together as a part of the…
1Opinion of the CourtEarl, J.
In December, 1869, an arrangement was made between the plaintiff’s testator, O’Keefe, and the defendant, whereby O’Keefe was to procure a policy of insurance on his life from the Phoenix Life Insurance Company, and assign it to the defendant, who was to pay the premiums and have the benefit of the policy, with the understanding that, if at any time O’Keefe desired to redeem the policy, he could do so by paying the premiums advanced by defendant, with the interest thereon. In pursuance of this arrangement, O’Keefe procured the company to issue a policy on his life, which was immediately…
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