Travelers Insurance Co. v. Angus (In Re Angus)

MEMORANDUM OPINION

FOLGER JOHNSON, Bankruptcy Judge.

Defendant Myrleen Marie Angus had taken out a personal articles insurance policy with plaintiff which covered, among other things, a man’s gold and diamond ring which defendant valued at $7,000.00. On or about the evening of February 19, 1980, defendant went out with a friend permitting him to wear the ring. At the conclusion of the evening it was discovered that the ring was missing and was presumed lost or stolen.

Plaintiff made an investigation, uncovered no evidence of fraud, and on May 2 paid defendant Angus $5,689.00, which amount had…