Travelers Insurance Co. v. Graye

This bill for. declaratory and other relief was heard on stipulated facts and documentary evidence which the judge treated as a statement of agreed facts. The plaintiff seeks to have the defendant Graye ordered to execute an assignment to it of bis rights and causes of action to the extent of $12,000 against any third party responsible for the sinking of his yacht.

On August 28, 1966, Graye’s yacht, the “Nepenthe,” was sunk off Tinker’s Ledge, Marblehead, and has never been recovered. The yacht was insured by Graye with the plaintiff under a policy with a limit of $12,000. The full amount of…