Power Building & Loan Ass'n v. Ajax Fire Insurance

The opinion of the court was delivered by

Gummeke, Chibe Justice.

This appeal is taken by the Ajax Eire Insurance Company, the defendant below. The suit was brought by the Power Building and Loan Association upon a fire insurance policy issued by the appellant to one Thomas Brown, the owner of a lot and building erected thereon in the city of Orange. The plaintiff held a third mortgage of $3,000 upon the property, and the policy issued by the appellant provided, among other things, that any loss or damage to the building by fire should be payable to the mortgagee, the Power Building and Loan…