Lloyds America v. Payne

GALLAGHER, Chief Justice.

Appellees, C. N. Payne and Citizens National Bank of Waco, sued appellant, Lloyds America, an insurance association organized and operating under the laws of this state, to recover on a fire insurance policy issued by appellant to appellee Payne insuring him against direct loss or damage by fire on a certain gin house, gin machinery, and equipment in the sum of $3,000, and promising to pay such loss, if any, to said bank as its interest might appear. The case was submitted to the jury on special issues, in response to which findings of loss exceeding the insurance on…