Magee et al. v. Manhattan Life Insurance Company was a United States Supreme Court case that addressed the issue of whether a life insurance policy could be assigned to a third party. The plaintiffs, Magee et al., had purchased a life insurance policy from the defendant, Manhattan Life Insurance Company. The policy was assigned to a third party, and the plaintiffs sought to recover the proceeds of the policy. The Supreme Court held that the assignment of the policy was valid and that the plaintiffs were entitled to the proceeds of the policy. The Court reasoned that the assignment of the policy was valid because it was done in accordance with the terms of the policy and the law of the state in which the policy was issued. The Court also held that the assignment of the policy did not violate any public policy. The Court concluded that the assignment of the policy was valid and that the plaintiffs were entitled to the proceeds of the policy.

In the case of Magee et al. v. Manhattan Life Insurance Company, the Supreme Court was tasked with deciding whether a life insurance policy issued by Manhattan Life Insurance Company to William Magee's father was validly transferred to him upon his father's death. The majority opinion held that since there had been no formal transfer of ownership from Mr. Magee’s father to himself and he did not pay any consideration for it, he could not be considered as having acquired an interest in the policy under New York law at the time of his father’s death. In dissent, Justice Field argued that even though there had been no formal transfer or payment made between Mr. Magee and his deceased father, Mr. Magee should still be entitled to receive benefits from the policy because he was listed as its beneficiary when it was issued and thus had an equitable right in it which should have been recognized by New York law at that time regardless of any lack of formality or payment on his part