Commercial Credit Corp. v. Premier Insurance Co.

CROCKETT, Justice.

On January 9, 1960, Cecil R. Stacey had a wreck in his 19S9 Ford automobile which he was purchasing on conditional sales contract owned by plaintiff, Commercial Credit Corporation. He had had a collision insurance policy issued by defendant, Premier Insurance Company, in which Commercial Credit was named as loss payee. But on November 25, 1959, about six weeks prior to the accident, Mr. Stacey had requested Premier Insurance to cancel the policy, which it did and returned the unearned premium to him without giving any notice to Commercial Credit. Upon the foregoing facts,…