Crescent Insurance v. Camp

Citations

• 71 Tex. 503
• 9 S.W. 473
• 1888 Tex. LEXIS 1173

Syllabus

<p>1. Insurance Policy—Sole Ownership.—A surviving partner administering upon the estate of the deceased partner is not the sole unconditional owner of partnership assets.</p> <p>2. Same.—Nor does such ownership exist when, or if the administrator and surviving partner should pay firm indebtedness to an amount equal to or greater than the value of the firm’s assets. Such payment would give the right to reimbursement out of the assets, but would not confer complete ownership.</p> <p>3. Case Followed.—Crescent Insurance Company v. Camp, 64 Texas, 621.</p> <p>4 Estoppel.—Where the state of ownership of insured property is made known to the agent of the insurance company at the time the policy was issued, the Insurance Company can not set up the want of complete ownership to bar an action upon the policy. (Ins. Co. v. Eads, 65 Texas, 118.)</p>