Franklin Invest. Co. v. American Mut. Ins. Co. of Boston

HOOD, Chief Judge:

Appellant, a financing company, brought this action when appellee insurance company refused the claim which appellant had filed to recover for loss to a Buick automobile which it had repossessed in a damaged condition. The automobile was covered by an insurance policy issued by appellee to the purchaser of the car prior to its repossession. Because appellant held a chattel mortgage on the car at that time, it was named as “loss payee” as to losses to the vehicle. Presumably, the purchaser of the car — the named insured — was provided with a complete copy of the insurance…