Newspapers / The Chowan Herald (Edenton, … / Sept. 21, 1972, edition 1 / Page 5
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Thursday, September 21, 1972 This Is The Law By ROBERT E. LEE (SpraMTed by the Uwrtri et North Caroline) Constructive Trusts Jones takes out an insur ance policy for SIO,OOO on his own life, payable on death to his daughter. He dies short ly thereafter from a heart attack. Smith can prove that $l5O of the premiums were wrong fully paid with funds that Jones was holding in trust for Smith, and that the re maining ■ SSO in premiums were paid by Jones with his own money. How much, if any, of the* SIO,OOO proceeds may Smith get? Under the decisions of most states, Smith would be en titled to $7,500 of the pro ceeds of the policy. Smith would be able to en force a “constructive trust” upon a proportionate part of the proceeds, in such propor tion as the amount of his YOU ARE QHULLY RNITED TO TIE 613 MODEL StWWBOFTff fell Friday, September 22nd FREE GIFTS - FAVORS FOR CHILDREN ) T BAYS-8 THRU 13... J T BIGGER! j f BESI J REGISTER NOW FOR |f m W LONGER! t f yriM yrr - } |PP & K CONTEST { #<J • QUIETER! lIJ 11 "" T Registration ihru September 2y 1 '' AND... BETTER! 1 } TO CD FOPO* I 1 A ,J jL ' p^db««l»at> oJl/ ■» J . V?,—• WE LISTEN BETTER ALBEMARLE MOTOR CO funds so used have to the to tal amount of the. premiums paid—which, in this case, was three-fourths. Smith is entitled at his op \ tion to an “equitable lien” of 1150 upon the proceeds of the .jolicy. It is, 'of course, more advantageous for' Smith to assert a “constructive trust.” A minority group of states, in a situation such as this, will limit Smith to an “equit able lien” for the amount of his money which was wrong fully used in paying the pre miums. No North Carolina cases have been found hold ing either way. Adams owns a homo. / lie takes out a fire insurance policy for $30,000 on his home,' payable to himself. The premiums for the year cost S2OO. During the year, the house was completely de stroyed by fire. Goldfish can prove that all of the S2OO in premiums were wrongfully paid frpm funds Adams was holding in trust for him. How much, if any, of the $30,000 to be paid by the insurance company can Goldfish get? In most states Goldfish would 'be able to recover only S2OO He is entitled to only an "equitable lien” upon the proceeds for the amount of the premiums paid with his money, since they are in no true sense the product solely of his money. A fire insurance policy, unlike a life insurance pol icy, is a contract of indem nity againsi loss. Capybaras, the world’s largegi living rodents, sometimes weigh as much as 150 pounds. THE CHOWAN HERALD McGovern Group To Meet Again McGovern supporters will meet for the second time at the Chowan County Court house on Monday. At the last meeting it was decided to combine the campaign for Chowan and Perquimans counties. A campaign co ordinator and team loaders .for voter registration, pub 1 i city and finance will be elect ed at this meeting. George Jackson. First Con gressional -District coordinator for the North Carolina Mc- Govern campaign, will ag tin be present to help organize the various phases of the local campaign. All interested per sons interested in- supporting the national Democratic tick et are encouraged to attend. Every person should be willing to listen to others—at least as much as he talks. FOR QUICK RESULTS TRY A HERALD CLASSIFIED Accent On Agriculture By B. C. MANGUM N. C. Farm Bureau Federation Convenience Foods Today’s American life style encourages us to eat more but lighter meals and to take less time to prepare them. Food processors are getting on the bandwagon and it. tv,; come lip v.-iih. a wide ; variety of frozen -ads,- often in heatable bags, lull meals, v-roafckr. pop-ups (toast er fact;!-!) and individually packaged servings to fill the new needs. . These new. built-in- conveni ence foods cost flic- consumer more but rocs' A era cans f cem . i<j be IviUing to. pa> for (hem. Tin housewife who boys these items is not spending all her money for the foci- in c: not even. hail. Wlrat .-he's buying is a '-built in ill. id service,’* a- ont food economics writer •.'describes'■ it. Tit o s.c frozen, ready - cut. French fries or packaged mashed potatoes save her the time and trouble of peeling and cutting up real spuds, but she pays a premium lor the convenience. The higher price tag on the new processed items is the result of additional research, development and packaging and little, if any, of it is re ceived by the producer of the; raw product, the farmer’. * Other innovations in the food industry include new. (be: foods, health foods, eth-j nic foods and imitations.) I Topics Are Given j At Providence j Dr. William C. Bulls re-1 po'-i - that the subject of his t ycnvipn, this Sundav morning at Providence Bapti l Chu ch will be “The. Grout Invito t ion." A musical program is pianned for 7 P. ill. This pro gram is Being, sponsored by the Senior Choir, SPORTSWEAR ’72 .Sportswear ’72 for women finds trousers and jackets in the spotlight. Pant- will have the Oxford cut, featuring front pleat. Some trouser legs will be straight with a roll-up cuff, adds 'Dcrothy Barrier, extension clothing specialist, N. C. State Univer sity. Third Annual Albemarle Antique Show and Sale SEPTEMBER 22, 23. 24 THE ARMORY ELIZABETH CITY, N. C. Eri.-Sat. 1! a. m. -9p, m. ( Sponsored By Sun. 12-6 p. m. ELIZABETH CITY Home Cocked Food JUNIOR WOMAN'S Door Priies Daily CLUB 26 SELECTED DEALERS Assisted By from 6 STATES YESTERDAYS Admission SI.OO with this Ad Page 5-A FALL FABRICS In fall fabrics for womens fashions, small geometries are tounri in printed acrylics, paisleys and designs of bees, animals and food. New flor als or dark backgrounds lend themselves to the tapestry effect, observes Dorothy Bar rier. < xtcn.non clothing spe cialist. N. Stale University.
The Chowan Herald (Edenton, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Sept. 21, 1972, edition 1
5
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