Murphy v. Red
Mississippi Supreme Court
Appear from the Circuit Court of Holmes County. HoN. C. H. Campbell, Judge. . W. L. Red took out a policy of insurance on his own life in the New York Life Insurance Company, payable to him or his legal representatives. After paying the premiums thereon for several years he assigned the policy, in writing, in conformity with its provisions, for value, to R. M. Murphy, who had no insurable interest in the life insured.
Read the full summary
Appear from the Circuit Court of Holmes County. HoN. C. H. Campbell, Judge. . W. L. Red took out a policy of insurance on his own life in the New York Life Insurance Company, payable to him or his legal representatives. After paying the premiums thereon for several years he assigned the policy, in writing, in conformity with its provisions, for value, to R. M. Murphy, who had no insurable interest in the life insured. Murphy paid the premiums on the policy until Red’s death, when he collected the money due on the same. After this R. M. Murphy died, and W. S. Murphy was appointed administrator…
1Opinion of the CourtAeNOLD, J.
It is shown that the husband of appellee before his death assigned the policy on his life for a valuable consideration to appellant’s intestate. It is not suggested that there was any purpose in procuring the policy to evade or circumvent the laws against wagering policies, but it is affirmed on one side and denied on the other that the fact that the assignee had no insurable interest in the life insured vitiated the assignment, and the case will be considered in that aspect.
It is generally agreed that mere wager policies — that is to say, policies in which the insured party lias no interest…
2Cases cited11 opinions
- New York Mutual Life Insurance v. ArmstrongSupreme Court of the United States · 1886
- Warnock v. DavisSupreme Court of the United States · 1882
- Connecticut Mutual Life Insurance v. SchaeferSupreme Court of the United States · 1877
- Olmsted v. . KeyesNew York Court of Appeals · 1881
- Rawls v. . American Mutual Life Insurance CompanyNew York Court of Appeals · 1863
6 more not listed; retrieve them via the Exa API.
3Cited by16 opinions
- Rylander v. AllenSupreme Court of Georgia · 1906
- Steinback v. . DiepenbrockNew York Court of Appeals · 1899
- Gordon v. Ware Nat. BankCourt of Appeals for the Eighth Circuit · 1904
- Crosswell v. Connecticut Indemnity Ass'nSupreme Court of South Carolina · 1897
- Nye v. Grand Lodge, Ancient Order of United WorkmenIndiana Court of Appeals · 1894
11 more not listed; retrieve them via the Exa API.