November 5, 2020
I'm asking this question for the last time. Did Billy the Kid jump out of a burning house because of an insurance policy?
The Fatal Insurance Policy
The former military comrade and business partner of Lawrence Murphy and Jimmy Dolan, Emil Fritz, dies of kidney disease in Stuttgart, Germany on June 26, 1874. William Brady is made the administrator of the estate, but then he resigns and Emilie Scholand, a sister to the deceased is appointed as administrator. Alex McSween stays on as legal counsel. In July of 1877, the life insurance company in New York credits McSween's account of $7,148.49 and he notifies the family, but when Dolan hears about it he claims the money is owed to his firm. McSween refuses to give up the money and starts remodeling his house. This sets in motion a legal quandary that leads almost directly to a tragic and fiery confrontation in the back yard of the recently remodeled adobe house of Alexander McSween.
"Insurance is a contract, represented by a policy, in which an individual or entity receives financial protection or reimbursement against losses from an insurance company. The company pools clients' risks to make payments more affordable for the insured."
—Old Vaquero Definition