Roller v. Moore's Adm'r

Citations

• 86 Va. 512
• 6 L.R.A. 136
• 10 S.E. 241
• 1889 Va. LEXIS 62

Syllabus

<p>1. Life Policy—Insurable interest—Assignment of policy.—Persons having no ■ insurable interest in the life of another, can neither take out a policy nor take an assignment of a policy on the life of the latter.</p> <p>2. Idem—Assignment of policy—Case at bar.—Assured made assignee an assignment absolute on its face of a policy of insurance on his life. The evidence, however, showed that in former transactions about the same matter the policy was held by assignee as seeurity for advancements made by him for premiums and assessments on the policy: held, the assignment was not a new contract between the parties and an absolute assignment, but it bore the impress of the original transactions, and stood merely as a security for the advances made by assignee.</p>