State Distributing Corp. v. Travelers Indemnity Co.

The question for decision is this: Was the binder or contract of insurance against loss by burglary and robbery, as represented by the letter of 27 December, 1939, superseded by or merged into the formal policy covering robbery only, subsequently delivered, accepted and retained by the assured ? In the light of well recognized principles adopted and applied in decisions of this Court an affirmative answer is dictated.

These principles of law are:

1. In the field of insurance a “binder” or a “binding slip” “is merely a written memorandum of the most important terms of a preliminary contract of…