Montgomery v. Mutual Life Insurance

Citations

• 111 Miss. 6
• 71 So. 162

Syllabus

<p>1. Executors and Administrators. Collection of assets. Compromise of claim. Insurance. Surrender. Reimbursement. Paying premiums.</p> <p>Where the administrator acts in good faith, a compromise by him of a claim or a debt due to the estate is valid and binding, without previous authorization in vacation, as provided for by Code 1906, section 2065.</p> <p>2. Insurance. Surrender. Paying premiums. Reimbursements.</p> <p>Where after a wife’s death, her husband paid two premiums on a policy on his life which had been assigned to his wife, and subsequently surrendered the policy in exchange for a paid-up policy, and afterwards the husband and the administrator of the wife surrendered the paid-up policy upon payment of its cash surrender value, the premiums paid by the husband with interest •then amounted to more than the surrender value. In such case the administrator properly paid this amount to the husband; the payment by the husband having inured to the benefit of his co-beneficiaries, the heirs of his wife.</p>