Conway v. Caswell
Supreme Court of Georgia
Interpleader. Before Judge Hammond. Richmond superior court. August 15, 1904. In 1875 G. W. Conway was indebted to Theodore Caswell, with whom he was having business transactions. It being contemplated that the amount of the indebtedness would vary, Conway transferred a policy of insurance on his life, in the -¿Etna Life Insurance Company, to Caswell as collateral “to the extent of such interest as he may have when said policy becomes a claim.”
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Interpleader. Before Judge Hammond. Richmond superior court. August 15, 1904. In 1875 G. W. Conway was indebted to Theodore Caswell, with whom he was having business transactions. It being contemplated that the amount of the indebtedness would vary, Conway transferred a policy of insurance on his life, in the -¿Etna Life Insurance Company, to Caswell as collateral “to the extent of such interest as he may have when said policy becomes a claim.” Caswell and his successors paid all the premiums. In 1887 Caswell died. In 1888 Warren, his administrator, filed a bill in equity against Conway, in…
1Opinion of the CourtSimmons, C. J.
The parties were having constant dealings, so that it was uncertain what would be the balance due at the time of the debtor’s death. In 1875, therefore, G. W. Conway transferred his life policy to T. D. Caswell " as collateral . '. to the extent of such interest as he [Caswell] may have when said policy becomes a claim.” T. D. Caswell died in 1887. G. W. Conway-died in 1903. His heirs insist that the debt secured, having become' barred before the death of Conway, could not, under the Civil Code, §3433, be paid by his representative; that the debt did not exist, and therefore by the very terms…
2Cases cited12 opinions
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- Ware v. CurrySupreme Court of Alabama · 1880
- Hancock v. Franklin InsuranceMassachusetts Supreme Judicial Court · 1873
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