Glenco Corporation, a Corporation v. American Equitable Assurance Company, a Corporation

DANAHER, Circuit Judge.

Appellant, a corporation, sued to recover $22,500, the face amount of a fire policy issued by the appellee to insure “Theda L. Knight, Trustee for Glenco Corporation.” The action was dismissed at the close of the plaintiff’s ease, and this appeal followed.

Glenn 0. Richardson, a contractor, formed the Glenco Corporation to buy, remodel and sell old houses. Richardson early in 1957 made a down payment of $750 on a farm in Maryland and took title in the name of one “Theda L. Knight, as Trustee for the purpose of transferring property to the Glenco Corporation.” 1 The…