Nevada Refining Co. v. Newton

OPINION

By the Court, Mowbray, J.:

The principal issue presented for our consideration on this appeal is focused on the lower court’s interpretation of a clause in a conditional sales contract requiring the buyer named therein to assume and pay all the taxes and insurance covering the property which was the subject of the sale. The provision in the agreement is as follows:

“13. That it is hereby agreed Buyer shall assume and pay all taxes and insurance commencing on December 1, 1966.”

The clause, unfortunately, failed to state for whose benefit the insurance should be maintained.

The property,…