Little Rock Road Machinery v. Light

Carleton Harris, Chief Justice.

In April, 1959, appellant, Little Rock Road Machinery Company, sold and delivered a tractor to Earnie Light and Jack Knox, partners, d/b/a K & L Construction Company, pursuant to the terms of a promissory note, and a conditional sales contract, which provided that the title to the tractor was retained in appellant, and that the purchaser would keep the property insured for its full value against loss by fire or other hazards, for the benefit of the seller.1 The Little Rock Road Machinery Company ivas the named insured on a blanket policy, issued by appellee,…