St. Paul Fire & Marine Ins. v. Woods

Frank Holt, Justice.

J. B. Woods was president, general manager, and majority stockholder of Woody’s Catering Service, Inc. Sometime in 1967, Woods purchased from a dealer in Japan. 80 cartons of plastic razorback hogs, having a cost value of $4,180.00, which he apparendy intended to distribute as table decorations through the Catering Service. St. Paul Fire 8c Marine Insurance Company issued a floater on its policy with Woody’s Catering Service, Inc. covering the 80 cartons of merchandise in the sum of $1,000.00. Later, or on July 1, 1967, Baker Van 8c Storage Company stored these 80 cartons…