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HOME SECURITY LIFE INSURANCE COMPANY v. McDONALD

No. 31.

177 S.E.2d 291 (1970)

277 N.C. 275

HOME SECURITY LIFE INSURANCE COMPANY v. Arthur A. McDONALD, Jr., Trustee in Bankruptcy for Thomas E. Davis, Bankrupt, Thomas E. Davis and wife, Mary Y. Davis.

Supreme Court of North Carolina.

November 18, 1970.

Attorney(s) appearing for the Case

Lillard H. Mount and Richard M. Hutson, II, Durham, for plaintiff appellee.

Nye & Mitchell by R. Roy Mitchell, Jr., Durham, for defendant appellant Arthur A. McDonald, Jr.

BOBBITT, Chief Justice.

The Bankruptcy Act § 70(a), 11 U.S. C.A. § 110(a), in part provides: "The trustee of the estate of a bankrupt * * * upon his * * * appointment and qualification, shall * * * be vested by operation of law with the title of the bankrupt as of the date of the filing of the petition * * *, except insofar as it is to property which is held to be exempt, to all of the following kinds of property * * * (3) powers which he might have...

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