Equitable Insurance v. Cooper

Citations

• 60 Ill. 509

Syllabus

<p>1. Insurance policy — indorsement of— after sale of property. Where a person purchased property already insured and received an assignment of the policy, and after the purchase called on the agent of the company to learn whether he would make the necessary indorsement of consent to the transfer, when the agent said he would if the grantee would bring him the policy, but the holder did not present it until after the property was destroyed by fire: Held, this did not amount to a waiver of the condition that if the property should he sold the policy should be void unless the company should give its consent, indorsed in writing, on the policy; that the company had said or done nothing to change the action of the purchaser.</p> <p>2. Equity — specific performance. In such a case, there is no contract for a court of equity to enforce against the company. It was but a mere promise without consideration of benefit to the promisor or injury to the promisee, and the latter has no right to recover either at law or in equity.</p>