Page:Federal Reporter, 1st Series, Volume 7.djvu/621

 BBO0KHA.X;S V. KBMNA. 609 �Bbocehaus V. Eemna and others. �{Cireuit Court, B. B. Wiseonsin. May, 1881.) �1. Life IsenBANCH — Benbpioiabt — Fkoobeds — Vestbd Intbhebt. �The beneflciary named in a policy of life insnrance bas a vested interest in the proceeds of a paid-up polioy, given in exchange for such life policy. �2. 8aMB — InFATTT BbNBPICIART — VoiDABIJi Agkbembnt. �A written agreement, executed before the surrender of the life pol- icy, stipulating that the said proceeds should be placed in the hands of a trastee, and distributed as therein provided, is voidable by an infant beneflciary when such agreement did net constitute the sub- stantiel consideration for the exchange of the policies. — [Ed. �In Equity. �Tbis was a bill in eqnity, to which the defendant Alma Eemna intefposed a demurrer. The bill alleged that on the aeventeenth day of September, 1880, the defendant Aima Kemna commenced a sait in this court against the complain- ant and one Gustav Haug and one August Frank, in which she alleged that on the fifteenth day of October, 1878, the complainant, upon application made to the county court of Milwaukee county, was appointed her guardian during her minority; that as such guardian he, as principal, and said Hang and Frank, as sureties, exeouted a bond in the sum of $4,000 for the faithful discharge of bis duties as such guardian; that default was made in the performance of the conditions of the bond ; that no inventory of his ward's estate was ever filed by complainant; that about the twenty-fifth day of October, 1878, the sum of $1,755,12, which was the property of said Aima Kemna, came to the possession of com- plainant as her guardian ; that on the tenth day of August, 1880, she beeame of age, that her guardian, the complain- ant, had never accounted for the moneys aforesaid; and that judgment in the action commenced by her for the penalty of the bond, with execution for the sum before mentioned, and interest, was demanded. It was further alleged in the bill that the defendants in the action so commenced by Mrs. Kemna appeared therein and filed their answer to her com- �v.7,no.6— 39 ��� �