Lower Main St. Bk. v. Caledonian Ins. Co.

(dissenting) : This is an action upon a policy of insurance issued by the defendant to L. T. Lester, Jr., dated April 22,• 1924, insuring an automobile in the sum of $1,650 against loss by theft or fire. The plaintiff Lester had mortgaged the automobile to his coplaintiff, the bank, to secure a note due to it, and the insurance policy, without a loss payable clause, was delivered by Lester to the bank; hence its connection with this case.

At the hearing of this appeal, it was admitted in open Court, by counsel for the respective parties, that the automobile was stolen by a man named Gore, from…