Great American Insurance v. Stevens

On February 15, 1927, the home of appellee was damaged by fire. He had insurance on the property in the appellant insurance company for $2,500, and he also had policies of insurance on the same property in three bother companies. It was stipulated at the trial from which this appeal comes that the total loss payable by the four companies was $8,000.

The policy issued by the appellant insurance company contained a provision giving it the option to replace or restore the property damaged by fire in satisfaction of its liability in case of a fire, this option to be exercised within sixty days of…