Georgia Mutual Insurance v. Criterion Insurance

Horace Pye purchased a policy of automobile liability insurance from Georgia Mutual Insurance Company covering a 1968 Buick LeSabre, his only automobile. Under Section IV of the policy, captioned "Automobile Defined, Trailers, Private Passenger Automobile, Including Automatic Insurance,” coverage is also afforded to a "Newly Acquired Automobile,” defined as "an automobile, ownership of which is acquired by the named insured or his spouse if a resident of the same household, if (i) . . . the company insures all automobiles owned by the named insured and such spouse on the date of its delivery,…