St. Paul Fire & Marine Ins. Co. v. Veal

Does an insurance policy which covers a loss "caused by theft or larceny," include a loss occasioned by false pretense? We hold that it does not.

Briefly, the facts are that St. Paul issued an automobile insurance policy which covered the insured's 1971 GMC Diesel Tractor, or any part thereof, against loss "caused by theft or larceny." The insured took his vehicle to a local mechanic for engine repairs and contracted for a trade of his entire 1971 GMC running gear (motor, frame and transmission), plus $5,000, for a complete 1974 Cummings running gear, installed. Eight months later, the insured…