Great American Insurance Co. of New York v. Southwestern Finance Co.

Defendant in error, assignee of a mortgage on a certain Pontiac automobile destroyed in a collision, commenced this action against plaintiff in error, to recover the auto’s value on the basis of an insurance policy on the car issued by the latter. The parties will hereinafter be referred to by their trial court designations of “plaintiff” and “defendant”, respectively.

The particular part of the policy upon which plaintiff’s action was based is a union or standard mortgage clause endorsed thereon. The trial was by the court upon a fact stipulation which may he briefly summarized as follows: On…