Land v. Franklin Nat. Ins. Co. of NY

Stukes, Justice.

The plaintiff was the owner of a twenty-six-foot speedboat on Lake Murray, powered by a 225-horse power inboard motor, which was in the use and possession of his son, J. N. Land, Jr. The facts of the controversy will be stated largely from the latter’s testimony at the trial of this action and the references hereinafter to “Mr. Land” will be to'him.

On September 1, 1950, after the boat had recently been repaired, the defendant, now appellant, issued its policy of marine insurance covering it for $1,500.00, for which annual premium of $75.00 was paid; it contained the following…