Warren v. Davenport Fire Insurance
Supreme Court of Iowa
Appeal from Clinton District Court. / Action oh a policy of insurance, issued by defendant on alleged property of Goodale & Hosford, payable, in case of loss, to the plaintiffs.
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Appeal from Clinton District Court. / Action oh a policy of insurance, issued by defendant on alleged property of Goodale & Hosford, payable, in case of loss, to the plaintiffs. It is averred in the petition that on the 20th day of April, 1870, in consideration of the premium of $125 then agreed to be paid by one Goodale to defendant, the defendant by its duly authorized agent agreed to insure, and did then insure, said Goodale & Hosford, from twelve o’clock noon of that day until twelve o’clock noon on the '20th day of April, 1871, against loss or damage by fire, to the amount of $2,500, on…
1Opinion of the CourtMiller, J.
— The question raised by the demurrer is, whether the parties effecting the insurance in this case had an insurable interest in the property insured, at the time the risk was taken ’and at the time of loss by fire. \
Policies of insurance founded upon mere hope and expectation, and without some interest are said to be objectionable as a species oLg<m&ing, and so have been called wager policies. These policies were expressly prohibited in England by statute of George II, ch. 37, and they have been adjudged illegal and void in this country upon the principles of that statute. ■ Angelí on Fire &…
2Cases cited2 opinions
- Buck & Hedrick v. Chesapeake Ins. Co.Supreme Court of the United States · 1828
- Middleton Savings Bank v. City of DubuqueSupreme Court of Iowa · 1863
3Cited by32 opinions
- Hanover Fire Insurance v. BohnNebraska Supreme Court · 1896
- Riggs v. Commercial Mutual InsuranceNew York Court of Appeals · 1890
- Crossman v. American InsuranceMichigan Supreme Court · 1917
- Hessen v. Iowa Automobile Mutual InsuranceSupreme Court of Iowa · 1922
- Mahoney v. State InsuranceSupreme Court of Iowa · 1907
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