77 Neb. 886 | Neb. | 1906
On March 9, 1901, plaintiff obtained judgment against Cadet Taylor and others, the judgment being in part un
The assurance corporation -answered, denying that it made any agreement with the defendant Emma L. Taylor to pay her any moneys under the provisions of the policy, except in case of the accidental death of Cadet Taylor, and admitting a liability of $1,250, which it offered to pay to the person entitled thereto. The decree was for the plaintiff, requiring the assurance corporation to pay the plaintiff $1,250, admitted liability. The defendant Emma L. Taylor appeals.
The facts with reference to the issuance of the policy are: That Cadet Taylor had left his home in Omaha for the purpose -of a journey. His wife, Emma L. Taylor, requested her brother-in-law, W. B. Taylor, to procure an accident policy payable to her. W. B. Taylor applied to Frank S. Brownlee, district manager of the Preferred
Elaborate arguments are made on behalf of tbe appel-lee Weckerly and the assurance corporation to show that all benefits provided for by tbe policy, except for .death loss, were payable to Cadet Taylor, and it is as strenuously insisted by appellant that all benefits were payable to her; but, in view of tbe conclusion that we have reached, it is not important to determine that question. We entertain no doubt but that tbe appellant applied and paid for an accident policy, in which she was to be named as the beneficiary, and the fact that the policy, as it was issued, might be construed as contended for by the assurance corporation and Weckerly, should not, in an equitable action where the court looks to the substance rather than to the form, deprive her of the benefits of the transaction. Such benefits as have accrued were produced by the investment of her own funds, and were the result of the prudential course pursued by her for her own protection and the protection of the family, a benefit fund to which the" creditors have no legal, moral or equitable claim. No reformation of the contract was necessary. If any part of the benefits accruing under the provisions of the policy were, by the terms of the policy, payable to Cadet Taylor, that infirmity was remedied by the assignment executed by him prior to the commencement of this action. Nor can it be said that the assignment was without consideration. No consideration was necessary except the original consideration paid as a premium for the policy. It served to perform the purpose originally intended when the premium was paid by Mrs. Taylor. The amount of the premium is lightly referred to by counsel in the brief on behalf of the assurance corporation as being-insignificant. It is sufficient to say that the company issuing the policy fixed a price with which the court is not concerned. - -
By the Court: For the reasons stated in the foregoing-opinion, the decree of the district court is reversed and the cause remanded, with instructions to enter decree in conformity with the conclusion here reached.
Reversed.