American Central Insurance v. Antram

Citations

• 86 Miss. 224

Syllabus

<p>1. Insurance. Validity of policy. Fraud. Waiver.</p> <p>All contracts, including insurance policies, the execution of which h'as been obtained by fraudulent representations, are absolutely void, and cannot be the subject of waiver.</p> <p>3.Same. Knowledge of adjuster.</p> <p>A recovery on an insurance policy, void because its execution was obtained by fraudulent representations, cannot be predicated of the fact that the local agent accepted a premium for the company after its adjuster had investigated the fire and loss and had full knowledge of all the facts touching the same, in the absence of proof that the adjuster had knowledge of the fraudulent representations when he made the investigation.</p> <p>3. Same.</p> <p>The fact' that the adjuster at the time of the inspection was fully advised as to the true state of the title to the house insured and of the assured’s interest therein is insufficient to show that he knew that the policy had been procured by fraudulent representations.</p> <p>4. Same. Private debt to agent.</p> <p>Where an insurance agent has remitted a premium to the company with his monthly remittance, his subsequent acceptance of the amount of the premium from th'e assured as in payment of a private debt due to him as an individual does not constitute a waiver on the part of the company of the assured’s fraud in obtaining the policy, though at the time both the agent and the company’s adjuster had full knowledge of all the facts surrounding the fire and the representations by which th'e policy was procured.</p> <p>5. Same. Builder's visit. Valued policy law. Laws 1903, see. 33, ch. 59, p. 75.</p> <p>A builder’s risk insurance policy for more than the builder’s interest in the building is governed by the valued policy law.</p>