Haley v. Manufacturers' Fire & Marine Insurance
Massachusetts Supreme Judicial Court
Contract upon a policy of insurance, by which the defendant insured the plaintiffs in the sum of $5000, on “ their interest as mortgagees ” in certain furniture, in the Grand Central Hotel, at Saratoga Springs, from January 10,1874, to January 10,1875. The case was submitted to this court on agreed facts, in substance as follows: c The property insured was mortgaged to the plaintiffs by two mortgages, one by Charles R. Brown and the other by Robert Hamilton, to secure the…
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Contract upon a policy of insurance, by which the defendant insured the plaintiffs in the sum of $5000, on “ their interest as mortgagees ” in certain furniture, in the Grand Central Hotel, at Saratoga Springs, from January 10,1874, to January 10,1875. The case was submitted to this court on agreed facts, in substance as follows: c The property insured was mortgaged to the plaintiffs by two mortgages, one by Charles R. Brown and the other by Robert Hamilton, to secure the sum of $99,462.38, both mortgages being dated August 1,1872. Default was made in the performance of the conditions of the…
1Opinion of the CourtDeyens, J.
It is contended by the defendant, as the plaintiffs had agreed to sell their mortgages (upon which a much larger amount was due) for the sum of $62,500, upon payment by Cherry of certain notes with interest, amounting to that sum, one of which notes, amounting to $20,000, had already been paid at the time of the occurrence of the loss, that the sum of $42,500, with interest, is all that can now be recovered of the insurers, although the loss of property by the fire was $53,000 in amount, that being all that the plaintiffs would have received if Cherry had paid his notes. This argument treats…
2Cited by7 opinions
- New England Gas & Electric Ass'n v. Ocean Accident & Guarantee Corp.Massachusetts Supreme Judicial Court · 1953
- Little v. Phœnix InsuranceMassachusetts Supreme Judicial Court · 1877
- Shumway v. Home Fire & Marine Insurance Co. of CaliforniaMassachusetts Supreme Judicial Court · 1938
- International Trust Co. v. BoardmanMassachusetts Supreme Judicial Court · 1889
- Tabbut v. American InsuranceMassachusetts Supreme Judicial Court · 1904
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