Quality Bedding Co. v. American Credit Indemnity Co. of N. Y.

Browning, President:

Plaintiff, Quality Bedding Company, a corporation, was the assured in a policy of insurance issued by the defendant, American Credit Indemnity Company of New York, whereby the defendant agreed to indemnify plaintiff against loss due to the insolvency of its debtors to a certain amount, and particularly against loss due to the insolvency of the Huntington Chair Corporation to the extent of ten thousand dollars, occurring during the calendar year 1961. The policy, in brief, provided twelve specific instances determinative of when insolvency had occurred within the meaning of…