McMullen v. St. Lucie County Bank

In August, 1928, F. G. McMullen, president of the St. Lucie County Bank of Fort Pierce, Florida, purchased two policies of life insurance, one for $25,000.00, and the other for $10,000.00, both with the John Hancock Mutual Life Insurance Company. Before delivery the policies were assigned to the St. Lucie County Bank.

F. G. McMullen died in October, 1933, and in July, 1934, his widow and minor children, the appellants herein, filed their bill of complaint in this cause praying that said assignments be decreed to have been for the purpose of securing certain loans rather than as absolute…