Provident Fire Insurance v. Union Trust Corp.

On March 1, 1948, Mrs. Fanny McGoldrick purchased a truck from Elliott Equipment Company, Bristol, Tennessee. For the unpaid balance of $3,684, she executed a conditional sales contract which was assigned by the seller to the Union Trust Corporation, plaintiff herein, and its lien is endorsed on the truck’s certificate of title. Provident Fire Insurance Company, defendant herein, on the date of the purchase issued to Mrs. McGoldrick a policy insuring the vehicle against physical damage, the pertinent provisions of which read as follows:

“Loss Payee: Any loss hereunder is payable as interest…