Matter of People (n.Y. Title Mortgage Co.)

Order of the Appellate Division and that of Special Term affirmed on the authority of the companion case (Matter of People [Lawyers Title & Guaranty Co.], 265 N. Y. 20). We agree' that the omission of the words “ until the breach or termination of this guaranty ” from the policy in question does not change the effect of the policy. The implication is as plain as if the words were used. The company agreed to pay the interest at the times specified and the insured agreed to give the company full control of the mortgage. When the company failed to do its part the mortgagee was almost of…