New Amsterdam Casualty Co. v. Goldstein

On August 11, 1964, the defendant insured a 1964 convertible coupe with the plaintiff. The policy, known as an automobile liability and physical damage policy, embraced loss by theft. One of the provisions was, “Except with respect to bailment lease, conditional sale *493purchase agreement, mortgage or other encumbrance, the named insured is the sole owner of the automobile, unless otherwise stated herein.” On October 28, 1964, the defendant reported to the plaintiff that the motor vehicle was stolen on October 22, 1964. On December 10, 1964, the plaintiff paid the defendant $5,075 upon receipt…