Coshocton Glass Co. v. Northwestern Mutual Life Ins.

Citations

• 21 Ohio C.C. Dec. 675

Syllabus

<p>ASSIGNMENTS — INSURANCE.</p> <p>Assignment of Life Policy to Corporation Having Interest in Life of Insured may be Predicated Upon Intention of Insurance Company to Deliver to Corporation.</p> <p>G having decided to accept a policy issued upon- his life with his wife named as beneficiary, it was thereafter agreed that on account of the interest which the corporation of which G was an officer had in a continuance of his life, that the policy in question should be delivered to the corporation, which should pay the premiums coming due thereunder and should become the payee thereof: Held, That the corporation had an insurable interest in the life of G, and that the intention of the insurance company to deliver the policy to the corporation and of the corporation to accept it operated under the circumstances as an assignment of the policy to the corporation without the formality of a written contract of assignment.</p> <p>[Syllabus by the court.]</p>