Hare v. Headley
New Jersey Court of Chancery
On bill &c. The principal question involved in this ease is whether fire insurance companies, who have paid to a first mortgagee the loss to the mortgaged property occasioned by fire, are entitled to be subrogated therefor to the rights of the first mortgagee, or whether the second mortgagee is entitled to have the payment credited or applied as a payment on the first mortgage.
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On bill &c. The principal question involved in this ease is whether fire insurance companies, who have paid to a first mortgagee the loss to the mortgaged property occasioned by fire, are entitled to be subrogated therefor to the rights of the first mortgagee, or whether the second mortgagee is entitled to have the payment credited or applied as a payment on the first mortgage. The complainant is the assignee of the fire insurance companies; the defendant Headley is the assignee of the second mortgage. The ease is heard upon bill, answer of defendant Headley, replication and written state of…
1Opinion of the Court
Emery, ~V. C.
(after stating the facts).
On the above facts I reach the following conclusions:
First. As to the assignment of the claim of the fire insurance companies to complainant, I can see no objection to its validity, nor have counsel referred me to any authority calling in question the assignability of a chose in action of this character.
Second. The claim of defendant that the money received by the life insurance company for the insurance was credited on the decree, does not seem to be well founded in point of fact. Since the point was raised at the argument, I have examined the record…
2Cases cited7 opinions
- Rosenthal v. WalkerSupreme Court of the United States · 1884
- Hastings v. . Westchester Fire Ins. Co.New York Court of Appeals · 1878
- Allen v. Watertown Fire InsuranceMassachusetts Supreme Judicial Court · 1882
- Ulster County Savings Institution v. LeakeNew York Court of Appeals · 1878
- Davis v. German American InsuranceMassachusetts Supreme Judicial Court · 1883
2 more not listed; retrieve them via the Exa API.
3Cited by2 opinions
- Schmid v. First Camden National Bank, C., Co.New Jersey Superior Court Appellate Division · 1941
- Niagara Fire Ins. Co. v. FitzsimmonsNew Jersey Court of Chancery · 1927