Security Nat. Fire Ins. Co. v. Schott Drug Co.

The principal question for decision in this case is, Did appellee breach the ironsafe warranty clause contained in the policies of insurance issued by the respective appellants, and which is quoted in the next paragraph, and thus void its policies?

"Record Warranty Clause (Applied to Stock only)

"The following covenant is hereby made a part of this policy and a warranty on the part of the assured:

"Section 1. The Assured will take a complete itemized inventory of stock on hand at least once in each calendar year, and within twelve months of the last preceding inventory, if such has been taken.

"Un…