Farmers Ginnery & Manufacturing Co. v. Thrasher

1. Where a warehouseman for hire receives goods for storage, and, under an express contract or custom of trade, is under duty to insure them against loss by fire, if he commits a breach of duty imposed by the express contract or custom of trade, and his customers are damaged thereby, he will be liable.

2. If the warehouseman insures goods for his customers and collects money from the insurer for the loss of the goods, he will hold the fund so collected for the benefit of the insured customers or those who may have succeeded to their rights, subject to legitimate charges.

3. If at the time of…