Midland National Bank v. Dakota Life Ins. Co. - 277 U.S. 346 (1928)
U.S. Supreme Court
Midland National Bank v. Dakota Life Ins. Co., 277 U.S. 346 (1928)
Midland National Bank v. Dakota Life Ins. Co.
Argued April 12, 13, 1928
Decided May 28, 1928
277 U.S. 346
1. A judgment of the district court cannot be reversed by the circuit court of appeals upon a proposition outside of the issues raised by the pleadings and which no fact admitted, nor evidence received, offered or excluded, tends to sustain. So held when a judgment on an assigned life insurance policy, though in all other respects sustained, was reversed upon the ground that the policy was in part a wagering contract -- a matter not litigated in the district court. P. 277 U. S. 349.
2. A valid life insurance policy is not rendered void by assignment to one not having an insurable interest. P. 277 U. S. 350.
18 F.2d 903 reversed.
Certiorari, 275 U.S. 515, to a judgment of the circuit court of appeals, which reversed a judgment on a
life insurance policy recovered by the bank against the insurance company.