Hartford Fire Ins. Co. v. Landreneau

On October 24, 1923, Lucius Landreneau, Jr., executed an act of mortgage in favor of the American Investment Company of Oklahoma, covering certain property which he owned in the parish of Evangeline, to secure a note in the sum of $3,000. The act of mortgage contained the following stipulation, which is copied verbatim: “The said mortgagor bind - during the life of this mortgage to keep the buildings on said property insured against loss by fire and tornado to the amount of $-, and deliver the policies to said mortgagee, with clause thereto attached subrogating said insurance to said…