Townsend v. Tyndale
Massachusetts Supreme Judicial Court
Contract, against the administrator of the estate of Judas M. Josephson, for money had and received. Writ dated May 10, 1894. Trial in the Superior Court, without a jury, before G-asJdll, J., who reported the case for the determination of this court, in substance as follows.
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Contract, against the administrator of the estate of Judas M. Josephson, for money had and received. Writ dated May 10, 1894. Trial in the Superior Court, without a jury, before G-asJdll, J., who reported the case for the determination of this court, in substance as follows. The plaintiffs, who were general partners of the special partnership of Lane and Townsend, sought to recover the proceeds of a policy of insurance for two thousand dollars, dated April 25, 1877, issued by the New England Mutual Life Insurance Company on the life of Josephson, “for the benefit of Messrs. Lane and Townsend,…
1Opinion of the CourtHolmes, J.
It is found as a fact that the policy was taken out by the defendant’s intestate as security for the three notes on which the plaintiffs now rely in their claim upon its proceeds, and that the plaintiffs are entitled to recover the amount of these notes and interest. These notes still are “ subsisting pecuniary demands ” within the words of the policy, although they *296all are outlawed, as indeed one of them was when the policy was issued to secure it. As is said in Campbell v. Maple, 105 Penn. St. 304, 307, the statute of limitations “ does not extinguish the debt, nor affect a trust created…
2Cases cited2 opinions
- Shaw v. SillowayMassachusetts Supreme Judicial Court · 1888
- Norton v. PalmerMassachusetts Supreme Judicial Court · 1886
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- Miller v. HorowitzCourt of Appeals of Maryland · 1937
- Harde v. Germania Life Ins. Co.Court of Appeals of Texas · 1913
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