New Brunswick Fire Insurance v. Morris Plan Bank

The plaintiff in error, hereafter called the company, insured an automobile for C. B. Toler. The policy (for $2,000) contained this clause: “Loss, if any, payable to *404the Morris Plan Corporation, as their interest may appear.” The defendant in error, Morris Plan Bank of Portsmouth, Virginia, hereafter called the plaintiff, has succeeded to all the rights of the Morris Plan Corporation. The automobile was destroyed, and its value at the date of its destruction was appraised at $1,600.00. The case was submitted to the trial judge, without the intervention of a jury, and there was a judgment in…