Philadelphia Fire & Marine Insurance v. Burroughs

S. C. Burroughs brought suit on a policy of fire insurance on a described house. One policy for $1500 was issued on April 14, 1930, and an additional $500 was taken out on September 13, 1930, the premium on both policies being paid by the plaintiff. On October 20, 1930, the house was destroyed by fire.. To the policy was attached a loss-payable clause in favor of E. C. *261Rogers, to cover the amount of indebtedness represented by a security deed held by E. A. Smith, which indebtedness was outstanding and unpaid. The note and security deed were transferred by Rogers to Smith on March 29, 1926.…