First Westchester National Bank v. New England Insurance

Summary judgment was granted to respondent on the second cause of action in the amended complaint, which was for recovery upon the “ Collision or Upset” coverage in an automobile insurance policy. The pertinent facts are undisputed. The policy had been issued by appellant on August 8, 1951, for a three-year term, with respect to an automobile which was on that day bought by one Sheldon with financing furnished by respondent. Respondent bases its right to recover on the fact that it held a mortgage on the automobile at the time of the loss and that it was named as a “ Loss Payee ” in the…