Albrent v. Spencer

The plaintiff contends here, as she did below, that parol evidence is admissible to establish the true intent of the parties, viz., that the assignment covered only the cash surrender value; further, that there is an ambiguity in the written instrument relating to the option of Albrent to repurchase in event the sale of the stock to Clintonville Transfer Lines was not consummated, — the contract being silent as to Albrent’s right to reacquire the insurance, and there being no provision as to disposition of the proceeds in the event of Albrent’s death after the transfer of the insurance, but…