Bates v. Equitable Insurance
Supreme Court of the United States
Error to the Circuit Court for. Rhode Island; the case being this: . W. I). Philbrick being the owner of certain goods, got them insured by the Equitable Insurance Company of Providence. The policy contained a clause that if the property insured should be sold or conveyed, or if the policy should be assigned without the consent of the company, the risk should cease and the policy become void.
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Error to the Circuit Court for. Rhode Island; the case being this: . W. I). Philbrick being the owner of certain goods, got them insured by the Equitable Insurance Company of Providence. The policy contained a clause that if the property insured should be sold or conveyed, or if the policy should be assigned without the consent of the company, the risk should cease and the policy become void. It contained also provisions such as are cited below: “.And this company agree, that if the assured shall sell the aforesaid property, or any part thereof, before '•■he expiration of this policy, a…
1Opinion of the CourtJustice Miller
One of the conditions of the policy -was that if the property insured should be sold or conveyed, the( risk assumed ceased, and the policy became void; and there can'be no doubt that, looking to both the provisions of a policy, such as this one contained, and which are cited in the statement of the case, it ceases to be binding when the assured parts with his interest in the property insured, unless the company be notified of the sale. When this is done before a loss happens, the company is bound to refund a part of the prepaid premium, to be. apportioned in reference to the unexpired time…
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- Sun Insurance Office v. ScottSupreme Court of the United States · 1931
- Clay Fire & Marine Insurance v. Huron Salt & Lumber Manufacturing Co.Michigan Supreme Court · 1875
- Walker v. Queen Insurance Co.Supreme Court of South Carolina · 1926
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