McDowell v. Covert & Johnson

Citations

• 73 Pa. Super. 4
• 1919 Pa. Super. LEXIS 163

Syllabus

<p>Insurance — Fire insurance — Executory contract — Farol contract to reinsure — Evidence.</p> <p>An executory contract of insurance in the future may be valid and binding, but the testimony to establish it must show clearly the subject-matter of the insurance, the amount and elements of the risk, including its duration in point of time, extent in point of hazard assumed, the rate of premium, and generally all the circumstances which are peculiar to the contract, and distinguish it from every other, so that nothing remains to be done but to fill up the policy and deliver it on the one hand and pay the premium on the other.</p> <p>Where an action is brought against insurance agents for the breach of an alleged oral agreement to renew insurance, and it appears that in the conversation relied on, no amount was named for the new policy, its terms were not given, the goods to be included were not mentioned or the amount of the premium, and the rate to be charged, the plaintiff must be held to have failed to establish his contract, and a verdict should have been directed in favor of the defendants.</p>