Everhart v. Atlantic Fire Insurance

Stacy, C. J.,

after stating the case: Plaintiff was appointed under the policy in suit to receive payment, as his interest might appear, instead of the assured, in case the latter sustained any loss or damage to bis dwelling by fire during the time the-said policy of insurance was in force. This, it has been held in a number of cases (Roper v. Ins. Co., 161 N. C., p. 161), is the extent of the mortgagee’s interest in the contract when it arises, as it does here, under an ordinary loss payable clause, and not under a “New York standard mortgage cluase.” We had occasion to consider the effect of…