Fitchburg Savings Bank v. Amazon Insurance
Massachusetts Supreme Judicial Court
Contract upon a policy of insurance dated June 1, 1876, by which the defendant insured F. S. Coolidge against loss or damage by fire or lightning to the amount of $1500, for the term of six months from June 1, 1876, upon certain mill property, “ payable in case of loss to the Fitchburg Savings Bank, mortgagee.”
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Contract upon a policy of insurance dated June 1, 1876, by which the defendant insured F. S. Coolidge against loss or damage by fire or lightning to the amount of $1500, for the term of six months from June 1, 1876, upon certain mill property, “ payable in case of loss to the Fitchburg Savings Bank, mortgagee.” The policy also contained on its face, and before the signatures of the officers of the defendant company, the following provisions : “ If any change takes place in the title or possession of the property, whether by sale, lease, legal process, judicial decree, voluntary transfer,…
1Opinion of the CourtGray, C. J.
The policy in suit is on the interest of Coolidge 011I3, and the plaintiff is merely the payee of the policy, and not fas in the case of Foster v. Equitable Ins. Co. 2 Gray, 216, on *435which the plaintiff relies,) the assignee thereof in such form as to constitute a new contract between the assignee and the insurer by which the assignee becomes the assured. Coolidge being the only party insured, and his interest being subject to a mortgage to Kendall, which was not stated in the policy, the policy, by virtue of the provision upon its face, is void, and neither Coolidge nor the plaintiff can…
2Cases cited2 opinions
- Franklin Savings Institution v. Central Mutual Fire InsuranceMassachusetts Supreme Judicial Court · 1876
- Smith v. Union InsuranceMassachusetts Supreme Judicial Court · 1876
3Cited by17 opinions
- Parsons, Rich & Co. v. LaneSupreme Court of Minnesota · 1906
- Palmer Savings Bank v. Insurance Co. of North AmericaMassachusetts Supreme Judicial Court · 1896
- Delaware Ins. v. GreerCourt of Appeals for the Eighth Circuit · 1903
- Chandos v. American Fire InsuranceWisconsin Supreme Court · 1893
- Girard Et Ux. v. Vt. Mut. Fire Ins. Co.Supreme Court of Vermont · 1931
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