Akin v. Security Savings & Trust Co.

This suit was commenced on December 5, 1932, to determine who had the superior right and equity in the proceeds of an insurance policy in the sum of $25,000 issued by the New England Mutual Life Insurance Company on the life of William A. Tyler, deceased. Prom a decree in favor of the plaintiff, the defendant Jansen, as receiver for the Municipal Reserve and Bond Company, alone appeals.

Plaintiff’s claim to the proceeds of the policy is based upon an alleged oral assignment of the policy by the insured as collateral security for the payment of a note. Plaintiff avers that she is a bona fide…