Katze v. Randolph & Scott Mutual Fire Insurance

Harry Katze brought this action under the theft provisions of his farmowner’s insurance policy to recover the value of cattle he sold in exchange for a worthless check. The action was tried to a jury, which rendered a verdict in his favor. Katze appeals from a judgment dismissing his complaint on post-trial motions notwithstanding the verdict. The trial court found, as a matter of law, that Katze suffered no loss by “theft” within the meaning of the policy. We reverse.

The material facts are not in dispute. Katze is a farmer whose primary occupation is buying and selling cattle. Since 1973 he…