Persing, Dyckman & Toynbee, Inc. v. George Scofield Co.

Persing, Dyckman & Toynbee, Inc. (PDT), sued George Scofield Company, Inc. (Scofield), for damages; Scofield counterclaimed. At bench trial, judgment was entered substantially in favor of Scofield. We affirm.

The trial judge's findings, to which no error is assigned, establish that: PDT is an insurance broker. In June 1977, Scofield ordered insurance from PDT at an annual premium of $33,203. Scofield financed the premium by means of a promissory note and insurance premium collateral agreement with Puget Sound National Bank. As permitted by the policy, on June 23, 1977, Scofield canceled the…