National Bank of Commerce v. Appel Clothing Co.
Supreme Court of Colorado
Appeal from the District Court of Arapahoe County: Hon. Calvin P. Butler, Judge. The purpose of this action, commenced by appellant as plaintiff in the court below, is to subject certain life insurance policies issued upon the lives of debtors of the plaintiff to' the payment of a judgment in favor of the plaintiff and against such debtors.
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Appeal from the District Court of Arapahoe County: Hon. Calvin P. Butler, Judge. The purpose of this action, commenced by appellant as plaintiff in the court below, is to subject certain life insurance policies issued upon the lives of debtors of the plaintiff to' the payment of a judgment in favor of the plaintiff and against such debtors. The material averments of • the bill necessary to consider are to the effect that these policies provided for the,tputheviau,, sured-within-i specified,¡.periods) shut in 'the-'eventdofn their'-death- beforeCthe^espimtíon ’of: suoh''periÓQs'li téi^; oí…
1Opinion of the Court
Chiee Justice Gabbert
delivered the opinion of the court.
Counsel for plaintiff say that this action is in the nature of a creditors’ bill. Their theory upon which they claim this action can be maintained is that where a debtor takes out a policy of life insurance upon.his own life by the terms of which, should he survive a certain definite period, the company undertakes to pay him a certain sum of money, with the contingency that upon the death of the insured during this period the company will in that event pay certain sums of money to a beneficiary named in the policy or by assignment, and…
2Cases cited3 opinions
- Sexton v. WheatonSupreme Court of the United States · 1823
- Emery v. YountSupreme Court of Colorado · 1883
- Arnett v. CoffeyColorado Court of Appeals · 1891
3Cited by9 opinions
- In Re ElliottWashington Supreme Court · 1968
- Cannon v. NicholasCourt of Appeals for the Tenth Circuit · 1935
- United States v. Penn Mut. Life Ins. Co.Court of Appeals for the Third Circuit · 1942
- Fox v. SwartzSupreme Court of Minnesota · 1952
- Roller v. SmithSupreme Court of Colorado · 1924
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