Smith v. American Insurance Co.

*762*761The controversy herein turns wholly upon the affirmative defense of cancellation. Was the policy duly canceled? The policy in question was for $3,500, and covered a *762hotel at Fonda. It was issued on April 26, 1921, for the term of one year, the premium, therefor being paid in full. On October 15, 1921, a fire loss occurred, which was duly adjusted by the payment of $1,259, and such amount was credited upon the policy, leaving still in force insurance for $2,241. On January 5, 1922, a complete fire loss occurred, the amount of such loss being in excess of the remnant of the policy. The…