Fort Scott Building & Loan Ass'n v. Palatine Insurance
Supreme Court of Kansas
Error from Bourbon district court; Walter L. Simons, judge. STATEMENT. On September 15, 1896, H. G. Gates owned a house and lot in the city of Fort Scott, Kan. At that time he borrowed $1500 from the plaintiff in error, a building and loan association in that city, executing his note therefor.
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Error from Bourbon district court; Walter L. Simons, judge. STATEMENT. On September 15, 1896, H. G. Gates owned a house and lot in the city of Fort Scott, Kan. At that time he borrowed $1500 from the plaintiff in error, a building and loan association in that city, executing his note therefor. To secure the loan he and his wife executed a mortgage upon the house and lot, and he assigned to the association, as collateral security, his stock in that company to the amount of $1500. According to the terms of the loan the sum of at least $5.25 was to be paid thereon each week until paid in full.…
1Opinion of the Court
The opinion of the court was delivered by
Graves, J.:
The insurance company claims that the interest of the building association as mortgagee in the insured property was extinguished, by operation of the law of merger, when it received the conveyance from Blakey; that the insurance company stipulated to protect the building association as mortgagee only; *276and that when the latter ceased to be a mortgagee its right to indemnity was at an end. The insurance company further claims that it was the duty of the mortgagee, under the mortgage clause, to notify the insurance company of any change in the…
2Cases cited12 opinions
- Overholser v. ClarkTennessee Supreme Court · 1850
- Smith v. . RobertsNew York Court of Appeals · 1883
- Title Guarantee Co. v. WrennOregon Supreme Court · 1899
- Edgerton v. YoungIllinois Supreme Court · 1867
- Dodge v. Hamburg-Bremen Fire InsuranceCourt of Appeals of Kansas · 1896
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3Cited by27 opinions
- Corporation of the Royal Exchange Assurance v. FranklinSupreme Court of Georgia · 1924
- Royal Insur. Co. v. DruryCourt of Appeals of Maryland · 1926
- Williams v. BrickerSupreme Court of Kansas · 1910
- New v. SmithSupreme Court of Kansas · 1915
- Shores v. RabonSupreme Court of North Carolina · 1960
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