Peabody v. Washington County Mutual-Insurance
New York Supreme Court
THIS was an appeal from a judgment entered at a special term, upon demurrer to the complaint. The action was brought upon a policy of insurance for $875, issued by the defendants to 0. D. Riggs, one of the plaintiffs, upon his dwelling house, household furniture, wearing apparel, grain and provisions therein.
Read the full summary
THIS was an appeal from a judgment entered at a special term, upon demurrer to the complaint. The action was brought upon a policy of insurance for $875, issued by the defendants to 0. D. Riggs, one of the plaintiffs, upon his dwelling house, household furniture, wearing apparel, grain and provisions therein. The policy was assigned by Riggs, May 20, 1850, to one Porter, as collateral security for $700; and Porter, on the 18th of September, 1850, assigned it with consent to the plaintiff Peabody, as collateral security for $400. The property was destroyed by fire on the 27th of October, 1852.…
1Opinion of the Court
By the Court, T. R. Strong, J.
The plaintiff Peabody, according to the allegations in the complaint, under assignments of the policy of insurance, made with the consent of the defendants, and by virtue of an understanding with the plaintiff Riggs, to whom the policy was issued—all of which took place before the loss—holds the policy as collateral security for the payment to him by Riggs of $400. But it does not appear by the complaint that he had at any time any interest in the property insured, and this is fatal to his right to recover. A policy is a contract of indemnity, and without an…
2Cases cited2 opinions
- Howard v. Albany InsuranceNew York Supreme Court · 1846
- Granger v. Howard InsuranceNew York Supreme Court · 1830
3Cited by23 opinions
- Chrisman v. State InsuranceOregon Supreme Court · 1888
- Palmer v. . DavisNew York Court of Appeals · 1863
- Curran v. CurranIndiana Supreme Court · 1872
- Willard v. ReasWisconsin Supreme Court · 1870
- Benninghoff v. . Agricultural Ins. Co.New York Court of Appeals · 1883
18 more not listed; retrieve them via the Exa API.