Laurens Federal Savings & Loan Ass'n v. Home Insurance

Moss, Justice.

The Home Insurance Company, the appellant herein, on August 5, 1957, issued its policy in the amount of $2,500.00, insuring against loss or damage by fire during the ensuing year, a one story frame dwelling owned by Billy Ray Adams, one of the respondents herein, the policy being payable to the respondent, Laurens Federal Savings and Loan Association, mortgagee, as its interest might appear. The agreed value of the dwelling, as stated therein, was $2,500.00. At *229the time of the issuance and delivery of the aforesaid policy,. Billy Ray Adams was indebted to the Loan Association in…