Charles Holmes, Appellant v. Bessie L. Gilman, Impleaded

Summary

The New York Court of Appeals affirmed the judgment in favor of the plaintiff partner, holding that trust funds misappropriated by a partner to purchase life‑insurance policies may be traced into the policies and the plaintiff may recover the whole proceeds, not merely the amount of premiums. The court rejected the argument that the wife's insurable interest was property and that mingling limited the plaintiff's recovery.