Michigan Fire & Marine Insurance v. Slaughter

On June 29,1914, plaintiff issued to defendant a policy of fire insurance in the Michigan standard form in the sum of $5,000, against loss or damage by fire to the following buildings and property on his farm in Oakland county: Dwelling $2,000, grain barn $1,200, hay, grain and feed in the barn $500, and horse and cow barn $1,300. On or about April 10, 1916, defendant sold and conveyed the land, including the dwelling house, to the Oakland Development Company for $74,250, to be paid as follows: Cash $24,750, and the balance secured by mortgage of $49,500, which mortgage is still unpaid. At…