Harris v. Eagle Fire Co.
New York Supreme Court
THIS was an action of covenant, on a policy of in- . „ . , . , r . surance against fire. At the trial or the cause, a verdiet was taken for the plaintiff, by consent, for 1,235 dollars and 10 cents, subject to the opinion of the court on a case5 containing the following facts : The plaintiff resided in Richmond, in Virginia, where he manufactured tobacco, in a particular manner ; and procured a policy of insurance to be made by the defendants against fire, upon manufactured…
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THIS was an action of covenant, on a policy of in- . „ . , . , r . surance against fire. At the trial or the cause, a verdiet was taken for the plaintiff, by consent, for 1,235 dollars and 10 cents, subject to the opinion of the court on a case5 containing the following facts : The plaintiff resided in Richmond, in Virginia, where he manufactured tobacco, in a particular manner ; and procured a policy of insurance to be made by the defendants against fire, upon manufactured and unmanufactured tobacco, utensils and other property, to the amount of 20,000 dollars, and which was thus described…
1Opinion of the CourtThompson, J.
The rule by which the loss is to be calculated, is the only question arising in this case. The loss was a total destruction of 157 kegs of manufactured tobacco; and the assured claims the price for which they would have sold at his manufactory to a bona fide purchaser ; being, as he contends, the valuation in the policy. The underwriters contend, that they ought only to pay the first cost of the tobacco, together with the cost of manufacturing the same, and a reasonable allowance for the use and risk of the capital of the manufacturer, and for his attention. Which of these rules ought to…
2Cited by4 opinions
- Aurora Fire Insurance v. JohnsonIndiana Supreme Court · 1874
- Michael v. Prussian National InsuranceNew York Court of Appeals · 1902
- Lee v. Hamilton Fire InsuranceNew York Supreme Court · 1927
- Luce v. Springfield Fire & Marine Ins.U.S. Circuit Court for the District of Western Michigan · 1873