Ratner's Dairy Restaurant, Inc. v. Milwaukee Mechanics' Insurance

O’Malley, J.:

The plaintiffs, two corporations, were the lessees of three adjoining buildings for a period of ten years. They gave a mortgage on their leases in the sum of $45,000, payable in two years, and took out a fire insurance policy for one year in the sum of $19,000 as. protection to the mortgagee. The total premium in the first instance was $789.75. This, however, was afterward reduced as payments were made on the mortgage so that eventually the net premium was $272.53.

In this action the plaintiffs sought to recover this sum with interest, upon the ground that the policy was void;…