Continental Insurance v. Rosenberg

Citations

• 23 Del. 174
• 7 Penne. 174
• 74 A. 1073
• 1909 Del. LEXIS 7

Syllabus

<p>Fire Insurance Policy—Iron Safe Clause—Warranty—Other Insurance—Inventories and Books; what they must show; ■ where to be kept; when to be produced—Insurance Contracts; how to be Interpreted—Agencies—Evidence—■ Reasonable Time; when a Question for the Jury— Supreme Court Court—Affirmance Affirmance of Judgment below.</p> <p>1. In an insurance policy the “iron safe clause” is a covenant which constitutes a warranty on the part of the insured, a breach of which would prevent his recovery. The plaintiff must show at least a substantial compliance with every material part of said clause, or fail in his suit.</p> <p>2. Although the plaintiff had procured other insurance upon his stock of goods greater than that which was permitted by the policy sued on, that fact would not prevent him from recovering, provided the agent of the defendant company, who issued and delivered the policy, and collected the premium, had knowledge of such excessive insurance, and the company did not cancel the policy. The knowledge of the agent having such powers, and performing such duties, is held to be the knowledge of the company.</p> <p>3. Certain inventories, admitted in evidence and which disclosed the kinds of goods in stock, with their values, although not so full and particular as might be expected or desired, held to substantially comply with the requirements of the policy, and to be inventories within the meaning of the “iron safe clause” and were sufficient to inform the company, with reasonable certainty, of the character, quantity and value of the goods in stock, and that is all that is required.</p> <p>4. Although the inventory was not continued to be kept in such place as the policy named yet, if it was preserved and actually produced for the inspection of the company as required, it is sufficient, provided the entries thereon are correct and true.</p> <p>5. While the “iron safe clause” provides that a set of books shall be kept which shall clearly - and plainly present a comp