Standard Motor Freight, Inc. v. Pennsylvania Threshermen & Farmers' Mutual Casualty Insurance

Opinion by

Arnold, J.,

Pennsylvania Threshermen and Farmers’ Mutual Casualty Insurance Company on August 26, 1938 issued its policy of casualty insurance to the Standard Motor Freight, Inc. (hereinafter called the insured). A substantial portion of the premium was financed by the Insurance Premium Finance Company. One McFadden delivered the policy to, and was paid the premium by, the Finance Company, which held the policy as collateral to notes of the insured.

On December 7, 1938 the Finance Company returned the policy to the Insurance Company for cancellation and payment of the unearned…