Ben Cohen & Dickler Inc. v. Fireman's Fund Insurance

The plaintiff, a fur merchant, insured his stock in trade with the defendant under a “Special Floater Policy” which provided, among other things, “Property in custody of public or common carriers or postal authorities is not covered unless shipped subject to the following conditions: . . . . B. Railway Express Agency, Inc., .... provided that on each shipping package of a value of $500, or more sent by the Assured .... either (1) a value declaration is made to the carrier of not less than 25% of the actual value of the contents of the shipping package, but not necessarily more than $1,000.…