129 Ala. 377 | Ala. | 1900
The transfer -of the policy of insurance assailed as fraudulent is absolute in form. The contention, that it is v-oid, is based solely upon the proposition that it was intended as a security for a debt, which it is admitted was due by the transferor to the transferee. If the evidence establishes this contention, it cannot he a matter of serious controversy, that the transfer ivas invalid as against the plaintiff who was a creditor of the transferor at the time it was made. The principle upon which such a transfer is held void as against creditors, is, that there is a reservation of a benefit to the transferor— a trust for his use. — Code, § 2150; Steiner v. Scholze, 114 Ala. 88; O’Neil v. Birmingham Brewing Co., 101 Ala. 383; Bryant v. Hall, 21 Ala. 264. However, before a transfer can be stricken down as infected with fraud
Affirmed.
