Buchholz v. United States Fire Insurance

This action was brought upon a policy of fire insurance. The policy made provision for appraisment of any loss as to which the parties should disagree. After the insured property had been totally destroyed by fire, the parties entered into a written agreement for the appointment of appraisers to ascertain the amount of the loss.

A rider upon the policy reads as follows: “Loss Adjustment Clause — It is understood and agreed that the basis of settlement on stock sold but not delivered shall be the assured’s selling price.” Claiming that property covered by the policy had been sold but not…