Cawthon v. Perry

HENRY, Associate Justice.

In the year 1873 the Equitable Life Assurance Society of the United States issued to Augustine H. Perry a policy of insurance upon his life for the sum of $10,000.

In the year 1887, Perry having kept the policy alive up to.that time, and being then indebted to appellant in the sum of $900, he sold and delivered the policy by a written bill of sale, reading as follows:

“For $1 to me in hand paid and for a valuable consideration, the receipt of which is hereby acknowledged, I hereby assign, transfer, and turn over all my right, title, and interest in policy Mo. 84,000, on…