Pizarro v. Western Assurance Co.

Mr. Justice Ramírez Bages

delivered the opinion of the Court.

On February 25, 1958 Isabelo Figueroa Pizarro purchased a new Buick automobile for the price of $4,980. He insured it immediately with Western Assurance Company against the risk of collision, the company binding itself to pay in the event of collision the actual damages sustained by the ve-*145hide up to the sum of $4,000, deducting from the amount of the damages the sum of $50. This policy was endorsed in favor of Banco Popular de Puerto Rico and it was set forth that any amount payable thereunder would be paid to Figueroa Pizarro or to…