Mutual Benefit Life Ins. v. First National Bank
Court of Appeals of Kentucky
Case 91 — -Action by First National Bank of Louisville against Mutual Benefit Life Insurance Company, of Newark, N. J., AND W. A. SUDDUTH’S EXECUTOR ON A LIFE POLICY OF SUDDUTH Assigned to Said Bank. APPEAL FROM JEFFERSON CIRCUIT COURT, LAW AND EQUITY DIVISION. Judgment for Plaintiff and the Insurance Company Appeals. POINTS AND AUTHORITIES. 1. No particular form is necessary 'to constitute an equitable assignment of a debt or other chose in action.
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Case 91 — -Action by First National Bank of Louisville against Mutual Benefit Life Insurance Company, of Newark, N. J., AND W. A. SUDDUTH’S EXECUTOR ON A LIFE POLICY OF SUDDUTH Assigned to Said Bank. APPEAL FROM JEFFERSON CIRCUIT COURT, LAW AND EQUITY DIVISION. Judgment for Plaintiff and the Insurance Company Appeals. POINTS AND AUTHORITIES. 1. No particular form is necessary 'to constitute an equitable assignment of a debt or other chose in action. Any order, writing or act which makes an appropriation of the flund, amounts to. .an equitable assignment of that fund. An assignment, of a debt…
1Opinion of the Court
Opinion op the court by
JUDGE PAYNTER
Reverstng.
On July 30, 1897, the appellant issued to Watson A. Sud-doth a policy insuring his life in the sum of $5,000 for the benefit of his executors or assigns in consideration of the payment of a semi-annual premium of $63.50. He paid the premiums for twelve years. On July 14, 1898, he borrowed of the company on the policy $549.60, executing a note due in six months. At maturity, an additional loan being made, the note was renewed for $599.32, payable July 30, 1899. On May 6, 1899, Sudduth, for value, assigned the policy to the appellee, the First…
2Cases cited5 opinions
- Holly v. . Metropolitan Life Ins. Co.New York Court of Appeals · 1887
- New York Life Insurance v. N. L. Curry & Bro.Court of Appeals of Kentucky · 1903
- St. Louis Mutual Life Insurance v. GrigsbyCourt of Appeals of Kentucky · 1874
- People Ex Rel. Ostrander v. . ChapinNew York Court of Appeals · 1887
- North-western Mut. Life Ins. v. Fort's Adm'rCourt of Appeals of Kentucky · 1884
3Cited by10 opinions
- Allen v. Home National BankSupreme Court of Connecticut · 1935
- Emig's Admr. v. Mutual Benefit Life Ins.Court of Appeals of Kentucky · 1907
- Presentation Sisters, Inc. v. Mutual Ben. Life Ins. Co.South Dakota Supreme Court · 1971
- Cheek v. Commonwealth Life Ins. Co.Court of Appeals of Kentucky (pre-1976) · 1939
- Jagoe v. Aetna Life Ins.Court of Appeals of Kentucky · 1906
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