Perez v. Los Fresnos State Bank

OPINION

BISSETT, Justice.

This is a suit on a marine insurance policy to recover the value of a boat that was totally destroyed by fire.

Pascual Perez, the insured boat-owner, sued Interstate Insurance Company and Breedlove Insurance Agency to recover the full amount of the policy issued by the insurer on a boat owned by him. Los Fres-nos State Bank of Los Fresnos, Texas, which held a mortgage on the boat, intervened under an endorsement to the policy which protected its interest as a mortgagee.

At the conclusion of a jury trial, judgment was rendered that Los Fresnos State Bank (Bank) recover…