Seaman v. Enterprise Fire & Marine Ins.
U.S. Circuit Court for the District of Eastern Missouri
Suit upon a policy of insurance upon a steam-boat owned, as alleged, by the 0. Y. Kountz Transportation Company. The insured vessel, while making the trip specified in the policy, accidentally struck the river bank, in attempting to make a landing, and was so injured that she sank and became a total loss. The other material facts and the points made in the defense sufficiently appear from the charge.
1Opinion of the Court
Brewer, J.,
(charging the jury orally.) This plaintiff claims to be the owner of 74 shares of stock or three-sixteenths of the stock of this company, and that, by reason of that ownership, he has or had *779an insurable interest in this boat to that extent. His interest arises or arose by virtue of the fact that he owned the stock in the corpora» tion, — the Kountz Transportation Company, — which corporation owned the boat. As tho owner of the stock he had a right to insure his proportionate interest in the boat; that is, if he owned three-sixteenths of the stock lie could insure three-sixteenths…
2Cases cited1 opinion
- Warren v. Davenport Fire InsuranceSupreme Court of Iowa · 1871
3Cited by8 opinions
- Rhode Island Hospital Trust Co. v. DoughtonSupreme Court of North Carolina · 1924
- L & L Marine Service, Inc. v. The Insurance Company of North AmericaCourt of Appeals for the Eighth Circuit · 1986
- Mannheim Ins. Co. v. HollanderDistrict Court, S.D. New York · 1901
- Kansas City Fire & Marine Insurance v. Dan Arias Shrimp Co.Court of Appeals for the Fifth Circuit · 1958
- Boston Ins. v. HudsonCourt of Appeals for the Ninth Circuit · 1926
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