Penn-National Hardware Mutual v. General Finance Corp.

BRYAN, Circuit Judge.

This is an action to recover for losses insured against by a poliey of indemnity insurance. The poliey was dated May 10, 1924, and was issued by the defendant Penn-National Hardware Mutual in favor of the plaintiff, General Finance Corporation. It provided against “loss resulting from the violation of the terms of any trust receipt, mortgage or lease agreement, conditional sales agreement in which the assured shall have a pecuniary interest, which, for the purpose of this policy, shall hereinafter be known as obligations, by reason of the wrongful sale, mortgage, pledge,…