Sprouse v. Skinner

(After stating the foregoing facts.) The court below, to whom the case was submitted on the pleadings and agreed statement of facts, held and ruled that the assignment and transfer of the policy involved in this case by the assured to his creditor transferred title in the policy to the latter as security for the indebtedness due him; and thereafter, it appearing that at the time of the death of Sprouse he was indebted to Skinner in a sum in excess of $5000, the amount of the face of the policy, the court held that the assignee or transferee of the *122policy was entitled to the entire proceeds…