The plaintiff, Richard Froud, brought an action against his sister, Susan Froud, seeking disgorgement of life insurance proceeds she received following their mother's death.
Richard alleged that a family agreement required the mother's $1,000,000 life insurance policy to be reduced to $500,000 in exchange for him receiving a house at a discounted price.
The court found that the written agreements, including an Agreement of Purchase and Sale and an Acknowledgment, did not contain a condition to reduce the policy.
The court also dismissed claims of breach of fiduciary duty and bad faith, concluding that the parties acted in their own best interests.
The action was dismissed in its entirety.