Royal Insur. Co. v. Drury

The chief question to be determined in this case is whether or not the final ratification of a sale of property made under a power of sale contained in a deed of trust, to the holders of the notes secured by the deed of trust, effects “any change of ownership” in the property within the meaning of that phrase as used in the “standard mortgage clause,” now customarily attached to fire insurance policies covering mortg'aged property.

In the fall of 1920 Mr. R. E. Walker, president of the Brightwood Sanitarium Company, after a casual meeting with Mr. D. H. Roland Drury in Washington, D'. C.,…