Monroe Building & Loan Ass'n v. Liverpool & London & Globe Insurance

The opinion of the court was delivered by

Breaux, J.

This was an action upon a policy of fire insurance for one thousand dollars issued in the name of the owner of the property.

The property was encumbered by a mortgage in favor of the “ Monroe Building and Loan Association,” and the policy was made payable as follows: “Any loss that may be ascertained and proven to be due the assured under the contract shall be payable to Monroe Building and Loan Association as its interest may appear at the time of the fire and remainder, if any, to the assured.”

One of the written conditions upon which the…