National Fire Insurance v. Hornbuckle

I concur in the result reached in this case, but not in all that is said therein. An examination of the evidence shows clearly that the plaintiff failed to keep such a set of books as would “clearly and plainly present a complete record of the business transacted, including all purchases, sales and shipments.” While it is true that it is a sufficient compliance with the “iron-safe clause” that the insured keep a set of books from which, “with the assistance of those who understand the system on which they were kept, the amount of purchases and the amount of sales can be ascertained” (Ætna…