Peoples Credit Clothing Co. v. Scottish Union & National Insurance

1. Where a fire-insurance policy contains a

clause that unless the ownership of the property insured is sole and unconditional the policy shall be void, and at the time of its issuance there is outstanding a valid and effective bill of sale to secure debt, executed by the insured, conveying the property covered by the policy of insurance, the policy is void, and the insured can not recover thereon. Peoples Credit Clothing Co. v. Old Colony Ins. Co., 47 Ga. App. 819 (171 S. E. 587). If, however, tbe agent who solicited and wrote the policy of fire-insurance containing such a sole-ownership…