Silvey

The policy of insurance issued by the Pacific Mutual Life Insurance Company of California upon the life of Anthony Silvey, ran in terms to the defendant Susan Medora Hodgdon, who was a daughter of the said Anthony, and in whose life she therefore had an interest, which was the lawful subject of insurance. The premium paid upon the issuance of the policy is therein recited to have been paid by the said Susan, who is therein designated as “ the assured under this policy,” and by its terms the insurance thereby effected is declared to be “ for the sole use of said Susan If. Hodgdon,” and payment is to be made to her “ for her sole use, if living, or if not living, to her heirs or legatees, in conformity with the statute,” etc. It is therefore apparent upon the face of the policy that the defendant Susan M. Hodgdon, and no other person, is the “ assured ” therein, and her legal relation to the policy, and the insurance thereby effected, is substantially the same as though she had purchased an endowment policy upon her own life, and had survived the period of time in such policy limited.

This being the true construction of the policy, and the legal import of its terms, neither the…

argued that the trust could not be proved by parol, as it was an express trust, and cited Perry on Trusts cd. 1874, sec. 76 ;■ and Dickerson v. Dicker son., 2 Mur. 279 ; 1 Carolina -Law- Repository, 262; Steer v. Steer, 1 J. G. R. 1; Dean v. Dean, 6 Conn. 285 ; Hutchinson v. Tindall, 2 Green Ch.' 357; Starr v. Starr, 1 Iíamm. (1 Ohio) 321; Lloyd v. Ihglis Hxcr.'l Hesau, 333; Moran v. Hayes, 1 J. C. R. 343; Philbroke v. Delano, 29 Maine, ■ 410. ■ He also argued that Mrs.' Ho'dgdo'n was designated in the policy by the term “ assured ” ; and this term “ assured ” meant, not the person whose life was assured, but the person for whose benefit the *365 insurance was made, and cited Bliss , on Ins. p. 6, sec. 5, p. 500, sec. 320 (ed. 1872) ; Hagle v. Guardian Life Ins. Co. 6 .Robertson, 567; Same Case, 4 Abb. N. S. 346; and Wason- v. Colburne, 99 Mass.. 342.). ,

H. T. Sullivan, W. E. Turner,.and C. T. Botts,ior ,the Respondents, argued that .the policy of • insurance was :not the foundation but the subject of the. suit, and that it was the money which was the subject of the trust, and that the- question was whether the legal holder of personal property could be shown by parol to hold…