A Treatise on Fraudulent Conveyances and Creditor's Remedies at Law and in Equity; Including a Consideration of the Provisions of the Bankruptcy Law Applicable to Fraudulent Transfers and the Remedies Therefor, and the Procedure Volume 1

A Treatise on Fraudulent Conveyances and Creditor's Remedies at Law and in Equity; Including a Consideration of the Provisions of the Bankruptcy Law Applicable to Fraudulent Transfers and the Remedies Therefor, and the Procedure Volume 1

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1908 edition. Excerpt: ...the property of the husband in fraud of the rights of his creditors," his creditors could subject the insurance to the amount of the premiums so paid. Although this decision was made in New York, there was no reference in the opinion to the New York statute allowing insurance to a limited extent on the life of the husband for the benefit of his wife. however, the creditors, may subject the entire insurance, or such proportion of the insurance as the excess of premiums paid bears to the total amount of premiums paid.41 22. Payment of premiums not voluntary or fraudulent.--The premiums paid by an insolvent debtor for life insurance policies taken out in favor of his wife or for another's benefit, or the proceeds of such policy, are not, in the absence of fraudulent intent, liable for his debts and subject to the claims of creditors, where the payment of the premiums was not voluntary but based on adequate consideration, or the insurance was effected, or the policy was assigned, as security for, or in payment of, bona fide indebtedness due to the assignee or beneficiary of the policy." The proceeds of life insurance policies on the Aetna Nat. Bank v. United States L. Ins. Co., 24 Fed. 770. A quarterly premium not exceeding the statutory annual limitation, no other premium being paid, cannot be reached by creditors. In re Jordan, supra. Membership in a benevolent association is life insurance within the meaning of the IIlinois statute providing for recovery by creditors of an insolvent of life insurance premiums paid by such insolvent with intent to defraud his creditors. Ramsey v. Nichols, supra. Excess premiums paid before ontractlng of debt.--Under the New York statute limiting the exemption of insurance policies on a husband's...show more

Product details

  • Paperback | 266 pages
  • 189 x 246 x 14mm | 481g
  • Rarebooksclub.com
  • Miami Fl, United States
  • English
  • black & white illustrations
  • 1236538994
  • 9781236538994