Equitable Life Assurance Society v. May
Supreme Court of Georgia
Executors. Insurance. Actions. Decrees. Ratification. Estoppel. Before Judge Harden. City court of Savannah. July term, 1888. On October 22d, 1887, Asa May sued the Equitable Life Assurance Society of the United States, upon a policy on the life of Asa May, father of the plaintifi, for $10,000, with participation in profits.
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Executors. Insurance. Actions. Decrees. Ratification. Estoppel. Before Judge Harden. City court of Savannah. July term, 1888. On October 22d, 1887, Asa May sued the Equitable Life Assurance Society of the United States, upon a policy on the life of Asa May, father of the plaintifi, for $10,000, with participation in profits. It recites that said insurance is in consideration of the payment of' $450.90 by Margaret M., wife of Asa May (who will be called hereafter in this report Asa May, Sr.), and of the annual premium of the same amount to be thereafter paid during the life of the assured. The…
1Opinion of the Court
Bleckley, Chief Justice.
May, the father and husband,' having a life insurance *654policy payable to his wife and children, died testate. In his will he gave directions concerning the collection of the policy and the application of its proceeds. In so far as he conld do so, he conferred authority up'on his executors to collect the money and apply the same in conformity to his testamentary scheme. The executors having made the collection from the insurance company, the children -filed a bill against them claiming the fruits of the collection. That bill was prosecuted to a final decree, and resulted…
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