Legal Opinion
Fidelity Union Trust Co. v. Phillips
New Jersey Superior Court Appellate Division
Decided September 28, 1949PublishedCited by 6 opinions
1Opinion of the Court
The issue in this case is whether a loan, collateralized by life insurance policies on the life of the borrower and satisfied from the proceeds thereof by the lender upon the death of the borrower, is recoverable by the beneficiary under the policies from the estate of the borrower as a debt to be paid out of the general assets of the estate, or whether the beneficiary is only entitled to the net proceeds of the insurance. The precise question does not appear to have been considered in any reported case in this state.
Arthur Phillips, the decedent, owned three life insurance policies, which…
2Cases cited12 opinions
- Board of Assessors of the Parish v. New York Life InsuranceSupreme Court of the United States · 1910
- Wagner v. ThieriotAppellate Division of the Supreme Court of the State of New York · 1922
- Camden Trust Co. v. CramerSupreme Court of New Jersey · 1945
- In Re the Accounting of Marine Trust Co.New York Court of Appeals · 1929
- In re the Estate of KelleyAppellate Division of the Supreme Court of the State of New York · 1937
7 more not listed; retrieve them via the Exa API.
3Cited by6 opinions
- Schwartz EstateSupreme Court of Pennsylvania · 1952
- Ph&x152nix Mut. Life Ins. Co. v. ConnellyCourt of Appeals for the Third Circuit · 1951
- Continental Assur. Co. v. ConroyDistrict Court, D. New Jersey · 1953
- FIDELITY UNION TRUST COMPANY v. PhillipsSupreme Court of New Jersey · 1950
- Goldstein EstatePennsylvania Orphans' Court, Cambria County · 1954
1 more not listed; retrieve them via the Exa API.