Appeal, No. 262 | Pa. | Jan 3, 1893
Opinion by
There is really but one question in this case, viz.: Was the “ Tontine Assignment,” as it is called, a valid and lawful contract? The plaintiff contends that it was not, for two reasons. First: The paper is not an assignment at all, and passed no title to the fiducial agency; and, Second: It is a wagering contract of the worst character, and wholly void.
We cannot assent to either of these propositions. It appears that Laban S. Hooper became a member of the United Life Insurance Association, appellee, a corporation of New York, on October 23, 1890. His policy of insurance was for $10,000 payable ninety days after proof of his death. The said Hooper and nine other members of said association, each holding a policy in like amount, then executed certain papers, called the “ Tontine Assignment ” to the fiducial agency, which as we understand it was a scheme for the distribution of the proceeds of their respective policies, in case of death, to the survivors.
The first party to the “Tontine Assignment” to die was the said Laban S. Hooper, who died August 10, 1891, intestate, unmarried and without issue, leaving as his heir at law, his mother, the appellant, to whom letters of administration were granted on August 31, 1891.
The defendant company paid the entire proceeds of Laban S. Hooper’s policy to the fiducial agency on January 4,1892. The company had previously been notified of appellant’s claim to the proceeds.
We think the “ Tontine Assignment,” so far as it was made for the purpose of creating the fiducial agency a trustee to collect the share of Laban S. Hooper, whatever that share should'be, after his death, was a valid assignment. As between this plaintiff and the defendant company, the payment to the fiducial agency was a good payment. The question of the right of the plaintiff to recover in an action against the fiducial agency is not before us and is not decided. -
Judgment affirmed.