Building and Loan Association v. . Swaim

It is not suggested that the estate of A. R. Swaim is not liable for the alleged deficiency in his account with the plaintiff; but the money paid Mrs. Swaim as the beneficiary of the policy issued by th^ Columbian National Life Insurance Company is her individual property and is not subject’to the payment of the debts of the deceased or to distribution as a part of the assets of his estate. Constitution, Art. X/ sec. 7; Burwell v. Snow, 107 N. C., 82; Cutchin v. Johnston, 120 N. C., 51. The only question for decision is whether the defendant’s note is supported by a valuable consideration or…