Royal Insurance Co. v. Ward

Opinion op the Court by

Judge Dietzman

— Affirming in part and reversing in part.

On January 25, 1932, the appellee W. F. Ward insured his residence in Mayfield, Ky., with thq appellant which issued him a policy in the principal amount of $3,800, with a rider attached styled “Standard Mortgage Clause” in favor of the appellee Young Men’s Building & Loan Association, which at that time held a mortgage on this house and the lot upon which it was located. Among other things, this “standard mortgage clause rider” provided:

“Loss or damage, if any, under this policy shall be payable to Young Men’s…