National Ben Franklin Fire Ins. Co. of Pittsburgh v. the Praetorians

PELPHREY, Chief Justice.

This suit was disposed of upon an agreed case, but we shall not here state the case as agreed. The following statement, we think, will suffice:

Defendant in error loaned B. E. Houghton in the neighborhood of $48,000, for which he executed notes payable to defendant in error and to secure which he executed a first lien on certain property.

Houghton, then in compliance with his contract with The Praetorians, insured the property with plaintiff in error, the interest of The Praetorians being insured to the extent of $30,000.

The policy contained the following clause; “On…