New York Life Insurance v. N. L. Curry & Bro.
Court of Appeals of Kentucky
Case 15 — 'Action by N. L. Cubby & Beo. against New York Life Insurance Company fob Redemption of Collateral Security. APPEAL FROM MERCER CIRCUIT COURT. Judgment for Plaintiff and Defendant Appeals. On March 24, 1894, George J. Anderson borrowed from appellant $130, and executed a loan agreement by which he pledged to the company his policy for $630 in said company, payable 'at his death.
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Case 15 — 'Action by N. L. Cubby & Beo. against New York Life Insurance Company fob Redemption of Collateral Security. APPEAL FROM MERCER CIRCUIT COURT. Judgment for Plaintiff and Defendant Appeals. On March 24, 1894, George J. Anderson borrowed from appellant $130, and executed a loan agreement by which he pledged to the company his policy for $630 in said company, payable 'at his death. Prior to August 1, 1899 Anderson sold and assigned his policy to N. L Curry & Bro., and obligated himself to pay the interest on his $130 loan on each recurring 1st of August. By the terms of the loan…
1Opinion of the Court
Opinion of the court by
JUDGE O’REAR
Affirming.
George J. Anderson was the holder of a paid-up policy of insurance upon Ms life for $630, issued by the .appellant, amd payable upon the death of the insured to his estate. Anderson borrowed $130 from appellant, and executed to it a writing, called a “Loan Agreement,” by which he pledged to appellant the policy to secure the repayment of the loan. Interest on the loan was payable on August 1st of each year (that being the anniversary of the insurance), so long as the principal was owing. The loan agreement contained the following: “It is agreed…
2Cases cited6 opinions
- Montgomery v. Phoenix Mutual Life InsuranceCourt of Appeals of Kentucky · 1878
- St. Louis Mutual Life Insurance v. GrigsbyCourt of Appeals of Kentucky · 1874
- North-western Mut. Life Ins. v. Fort's Adm'rCourt of Appeals of Kentucky · 1884
- Manhattan Life Ins. v. PattersonCourt of Appeals of Kentucky · 1901
- Mutual Life Insurance v. JarboeCourt of Appeals of Kentucky · 1897
1 more not listed; retrieve them via the Exa API.
3Cited by29 opinions
- New York Life Insurance v. EvansCourt of Appeals of Kentucky · 1910
- Palmer v. Mutual Life InsuranceSupreme Court of Minnesota · 1911
- Southern Life Insurance v. HazardCourt of Appeals of Kentucky · 1912
- Emig's Admr. v. Mutual Benefit Life Ins.Court of Appeals of Kentucky · 1907
- Supreme Lodge Knights of Pythias v. NeeleyCourt of Appeals of Texas · 1911
24 more not listed; retrieve them via the Exa API.