Farmers & Depositors Bank v. Commonwealth Ins.

Stanley, Commissioner

Affirming.

This is an action by a mortgagee named as payee “as its interest may appear” in a policy insuring the owner of a motor truck, Fred Inman, against loss by its destruction in a collision. A demurrer to the petition was sustained, and the plaintiff, Farmers and Depositors Bank, appeals.

The petition sets forth the issuance of the policy to Inman, states that the plaintiff held a mortgage on the truck at the time to secure a note for $1,650.90, which fact was known to the defendant company, and it had issued the policy filed as a part of the petition.. It further…