Legal Opinion
Brown v. Insurance Equities Corp.
Court of Chancery of Delaware
Decided July 11, 1936Published
1Opinion of the Court
General American Life Insurance Company filed its petition for an order allowing to it a claim in the amount of $750,000.00 with interest. The claim is founded on two promissory notes secured by collateral. The notes were executed by the insolvent corporation in December, 1932. One was for the face amount of $500,000.00 and the other for $300,000.00. The balance now due is $750,000.00. The notes were given by the insolvent to The First National Bank of St. Louis, Missouri, in consideration of a loan of $800,000.00 from the bank to the maker.The bank sold the notes to Missouri State Life…
2Cases cited5 opinions
- N.Y. N.H.R.R. Co. v. . SchuylerNew York Court of Appeals · 1865
- Fifth Avenue Bank v. Forty-second Street & Grand Street Ferry RailroadNew York Court of Appeals · 1893
- F.A. Bank v. . F.S.S. G.S.F.R.R. Co.New York Court of Appeals · 1893
- Lutz v. Roberts Cotton Oil Co.Superior Court of Delaware · 1912
- Penington v. Commonwealth Hotel Construction Corp.Court of Chancery of Delaware · 1931