Rollman Corp. v. Goode

The plaintiff-appellee Rollman Corporation (Rollman) sold the Novice Inn, a Dover ski lodge, to John Goode, the defendant-appellant. Goode gave to Rollman in part consideration for the sale a first mortgage on the premises. He later sold the Inn to Casiello Investors Corporation (Casiello), taking back in part payment a second mortgage. Casiello sold the Inn to Horizons Towne House Limited (Horizons), another appellee herein, taking back a mortgage. Each mortgage was conditioned upon the owner insuring the property for the benefit of the mortgage holder. Horizons’ insurance policy, however,…