(Download) "Vasaris v. National Liberty Ins. Co." by Supreme Court of Minnesota # Book PDF Kindle ePub Free
eBook details
- Title: Vasaris v. National Liberty Ins. Co.
- Author : Supreme Court of Minnesota
- Release Date : January 30, 1930
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 65 KB
Description
WAIT, J. The plaintiff, on May 14, 1927, purchased an automobile on a contract of conditional sale from the L. A. W. Acceptance Corporation of Brockton. On the day of the purchase he paid $700 in cash and gave twelve notes for $166.33 each for the balance of the purchase price. He subsequently paid five of these notes. The L. A. W. Acceptance Corporation held a policy of insurance issued by the defendant which insured its interest in all automobiles sold by it on conditional sale, against loss by fire, to become a risk under the policy as soon as the lease agreement was accepted by the corporation. The intent of the policy was to cover the interest of Lessor and Lessee, Vendor and Vendee, Loss, if any, to be payable to the L. A. W. Acceptance Corporation of Brockton, Massachusetts. In case of loss it provided that the assured shall give forthwith notice thereof in writing to the insurer, and within sixty days render a signed and sworn statement to the insurer stating designated matters. It also provided that this Company shall not be held to have waived any provision or condition of this policy or any forfeiture thereof by any requirement act, or proceeding on its part relating to the appraisal, or to any examination herein provided for. Furthermore, it set out: This policy is made and accepted subject to the provisions, exclusions, conditions and warranties set forth herein or endorsed hereon, and upon acceptance of this policy the assured agrees that its terms embody all agreements then existing between himself and the Company or any of its agents relating to the insurance described herein, and no officer, agent or other representative of this Company shall have power to waive any of the terms of this policy unless such waiver be written upon or attached hereto; nor shall any privilege or permission affecting the insurance under this policy exist or be claimed by the assured unless so written or attached.