Grosvenor v. . the Atlantic Fire Insurance Co. of Brooklyn
New York Court of Appeals
z Appeal from the Superior Court of New-York City. The action was upon a policy whereby the defendant did “ insure Eugene W. McCarty against loss or damage by fire, to the amount of $7,000 on his brick dwelling house, &c., until November 14, 1854. Loss, if any, payable to Seth Grosvenor, mortgagee.”
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z Appeal from the Superior Court of New-York City. The action was upon a policy whereby the defendant did “ insure Eugene W. McCarty against loss or damage by fire, to the amount of $7,000 on his brick dwelling house, &c., until November 14, 1854. Loss, if any, payable to Seth Grosvenor, mortgagee.” The policy contained a condition that in case of any transfer, or termination of the interest of the assured in the property insured or in the policy, either by sale or otherwise, without the consent of the company manifested in writing, the policy should from thenceforth be void. At the trial…
1Opinion of the Court
Habéis, J.
The contract of insurance is a contract of indemnity. To sustain an action upon such a contract, it must appear that the party insured has sustained a loss. This involves the necessity of an insurable interest at the time of the alleged loss. Without such interest, the party insured cannot be damnified.
In this case, the contract was between the defendants and McCarty. The agreement was to insure Eugene W. McCarty against loss or damage by fire, to the amount of $7,000, on his three story brick dwelling-house. But after the contract was made, and before the alleged loss, McCarty had…
2Cases cited3 opinions
- Carpenter v. Providence Washington InsuranceSupreme Court of the United States · 1842
- Traders' Insurance v. RobertNew York Supreme Court · 1832
- Robert v. Trader's InsuranceNew York Supreme Court · 1836
3Cited by75 opinions
- Hastings v. . Westchester Fire Ins. Co.New York Court of Appeals · 1878
- Mallory v. . the Travelers' Ins. Co.New York Court of Appeals · 1871
- Pitney v. . Glen's Falls Insurance Co.New York Court of Appeals · 1875
- Hartford Fire Insurance v. OlcottIllinois Supreme Court · 1881
- Weed v. London & Lancashire Fire InsuranceNew York Court of Appeals · 1889
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