Price v. Trinity Universal Insurance

Retired: This is an appeal from a judgment denying recovery under a fire insurance policy. The primary issue is whether the policyholders had an insurable interest in the burned property.

Trial was to the court on stipulated facts.

On July 12, 1977, plaintiffs Hildegard and Lenard Price entered into a written contract to purchase from Roy and Deanna Clemence a lot and house in Junction City, Kansas (Lot 3, Block 36, Cuddy’s Addition), along with two other lots with which we are not concerned here, purchase price $10,500.00. Upon execution of this contract, plaintiffs took possession of Lot 3.

On…