Hanover Fire Ins. Co. v. Wood

Appellee had judgment against appellant in an action on a policy of fire insurance. Appellee was a merchant, and the policy covered his stock of goods and store fixtures. The policy contained the following, covenants:

“The following covenant and warranty is hereby made a part of this policy:

“First. The assured will take a complete itemized inventory of stock on hand at least once in each calendar year, and unless such inventory has been taken, within twelve calendar months prior to the date of this policy, one shall be taken in detail within 30 days of issuance of this policy, or this policy…