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MARVIN ORECK, INC. v. CONNECTICUT GEN. LIFE INS. CO.

No. 42340.

186 N.W.2d 673 (1971)

MARVIN ORECK, INC., Respondent, v. CONNECTICUT GENERAL LIFE INSURANCE COMPANY, Defendant, Maurice W. Stoffer, as Executor of the Estate of Margot L. Oreck, Deceased, Appellant.

Supreme Court of Minnesota.

Rehearing Denied May 6, 1971.

Attorney(s) appearing for the Case

Sachs, Latz & Kirschbaum, Minneapolis, for appellant.

Hosmer A. Brown and Earl J. Myhre, Minneapolis, for respondent.

Heard before KNUTSON, C. J., and OTIS, ROGOSHESKE, KELLY, and FRANK T. GALLAGHER, JJ.

OPINION

OTIS, Justice.

This is an action to determine which of two claimants is the beneficiary entitled to the proceeds of a $50,000 life insurance policy. The trial court found for the plaintiff corporation, and the defendant estate appeals. The policy in question was a business asset in a partnership which dissolved and was succeeded by various corporate entities, each of which retained ownership of the policies. The basic issue is whether in repurchasing...

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