Foundation Reserve Insurance Co. v. Kennedy

OPINION

MOISE, Justice.

Plaintiff-appellant sought a declaration concerning its liability on a thirty-day binder issued by its agent to defendant-appellee to insure a building of defendant against fire loss. The building was destroyed by fire more than fifteen days after issuance of the binder but within the thirty dáys stated in it as the time during Which it would be effective.

Plaintiff does not question the authority of the, agent who issued the binder in its name, but asserts that after the passage of fifteen days it was void because prohibited by § 58-8-Í0(c), N.M.S.A. 1953, which provides…