Williamson Paint Manufacturing Co. v. George Washington Life Insurance Co.

Lively, Judge :

In this suit to recover the proceeds of a $10,000.00 policy insuring the life of C. E. Williamson, separate claims thereto were asserted by Williamson Paint Manufacturing Company, which instituted this suit, and Georgia May Williamson, widow of the insured and the named beneficiary at the death of Williamson; and the insurer, George Washington Life Insurance Company, denied liability.

In 1924, Williamson Paint Manufacturing Company (hereafter called “Paint Company”) was in financial distress, and a resolution passed by its board of directors authorized its president (1) to…