Giannetto v. General Exchange Insurance

The defendant insured the plaintiff against the loss of his automobile “by theft or larceny”. This form of policy covered all types of larceny defined in the statute (Block v. Standard Ins. Co. of N. Y., 292 N. Y. 270). In an action upon the policy, the plaintiff’s proof established these facts: One Alfieri, a used car salesman, obtained possession of the automobile from the plaintiff by representing to the plaintiff that he would sell the automobile as the agent of the plaintiff, use the proceeds to pay the lien of the General Motors Acceptance Corporation and turn over the surplus, if any,…