Midkiff v. North Carolina Home Insurance

"Wben a policy of insurance, in the form prescribed by statute (C. S., 6437), and known and designated as the Standard Fire Insurance Policy of North Carolina (C. S., 6436), bas been issued by an insurance company and accepted by the insured, and bas thereby become effective for all purposes as their contract, the rights and liabilities of both the insurer and the insured, under the policy, must be ascertained and determined in accordance witb its terms and provisions. These terms and provisions have been prescribed by statute, and are valid in all respects; they are just both to the insurer…