The plaintiff and the deceased entered into a jewelry business partnership and obtained life insurance policies on each other.
After the deceased passed away, the plaintiff sought summary judgment for the $250,000 insurance proceeds and a $42,000 promissory note.
The defendants counterclaimed, arguing the insurance proceeds were meant to fund a buy-sell agreement for the deceased's shares or were held in a constructive trust.
The court granted partial summary judgment, finding no evidence of a buy-sell agreement or constructive trust, and declared the plaintiff entitled to the insurance proceeds.
The claim regarding the promissory note was sent to trial due to conflicting evidence.
