Callicott bought a life insurance policy insuring her, Management Theories

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Callicott bought a life insurance policy insuring her

Question: Callicott bought a life insurance policy insuring her brother's life. She never told her brother about the policy. When the brother died, Callicott applied for payment of the proceeds. The insurance company refused to pay, claiming she had no insurable interest. Was the company correct? (Callicott v. Dixie Life & Accident Insurance Co., 198 Ark 69, 127 SW2d 620)

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