General Exchange Ins. Corporation v. Harmon

Opinion op the Court by

Morris, Commissioner—

Reversing.

Appellee, in April, 1938, purchased a truck from Fry Brothers Garage for $970. He paid $281 down, leaving a balance due of $689.75, for which he executed notes under the usual condition sales contract. This contract was cotemporaneously assigned to a financing-corporation, at which time appellant issued an automobile insurance policy to the “dealer and purchaser,” including therein the finance corporation, proceeds to be paid to the finance company as its interests might appear, “to an amount not exceeding- the actual cash value of the…