Vasaris v. National Liberty Insurance Co. of America

The plaintiff, on May 14, 1927, purchased an automobile on a contract of conditional sale from the L. A. W. Acceptance Corporation of Brockton. On the day of the purchase he paid $700 in cash and gave twelve notes for $166.33 each for the balance of the purchase price. He subsequently paid five of these notes. The L. A. W. Acceptance Corporation held a policy of insurance issued by the defendant which insured its interest in all automobiles sold by it on conditional sale against loss by fire, to become a risk under the policy as soon as the lease agreement was accepted by the corporation. The…